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Enhancements in the regulation of company service providers: A Maltese perspective

Author

Listed:
  • Buttigieg, Christopher P.

    (Chief Officer Supervision, Malta Financial Services Authority and University of Malta, Malta)

  • Cortis, Alison

    (Head of CSP Supervision, Malta Financial Services Authority, Malta)

Abstract

This paper explores the essential role of company service providers (CSPs) in Malta’s financial sector, particularly regarding regulatory frameworks aimed at combatting money laundering and terrorist financing. It reviews the historical evolution of CSP regulation, focusing on the CSP Act and subsequent reforms designed to enhance compliance and eliminate exemptions. While significant progress has been made, ongoing challenges related to proportionality highlight the need for further refinements to the regulatory framework. The analysis emphasises the importance of balancing effective oversight with the facilitation of legitimate business activities, particularly within the Class B under-threshold CSP segment. Proposed improvements, including a registration and notification system, aim to streamline compliance processes and strengthen risk assessment capabilities. Finally, this paper suggests future research directions, such as comparative studies and the evaluation of current oversight practices, to deepen understanding of CSP regulation. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.

Suggested Citation

  • Buttigieg, Christopher P. & Cortis, Alison, 2025. "Enhancements in the regulation of company service providers: A Maltese perspective," Journal of Financial Compliance, Henry Stewart Publications, vol. 9(1), pages 60-70, August.
    • Handle: RePEc:aza:jfc000:y:2025:v:9:i:1:p:60-70
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    Keywords

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    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

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