Today, 10 March 2021, the FIAU has launched a consultation on proposed amendments to part 1 of the Implementing Procedures. Apart from changes are brought under consultation through sectoral bodies, there are four main items that emerge:
- The provision of additional guidance on the relevance and reliability of adverse media and its relationship with the CRA and SDD;
- additional guidance for ongoing monitoring;
- a series of changes to support MLRO and broaden the number of persons who may qualify as MLROs, such as non-executive directors; and
- additional guidance for carrying out jurisdictional risk assessments.
Responses must be received by 9 April.
More information can be accessed here:https://fiaumalta.org/news/proposed-amendments-to-the-implementing-procedures-part-i/