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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/