On the 23rd August 2022, the Malta Financial Services Authority (“MFSA”) issued a circular as a final reminder to authorised persons of their obligation to submit their response to the Fintech Adoption Study Questionnaire (“FAS”) not later than the 31st August 2022.
In a circular issued on the 12th July 2022, the MFSA noted that the purpose behind the FAS is to assess the adoption of Fintech locally, and to also understand the market conditions and risks within Fintech. The FAS will also serve as an insight for the MFSA to carry out further supervisory engagement and to develop policies within the Fintech industry.
For this purpose, the FAS Questionnaire was published in order to support these developments. It is applicable to those authorised persons listed in Annex 1 of the MFSA circular issued on 12th July 2022, titled ‘Circular to the Industry on the MFSA’s FinTech Adoption Study – Launch of Questionnaire’. However, the MFSA notes that the following authorised persons are not obliged to submit a response:
- Those currently in the process of surrendering their authorisation; or
- Those which qualify as third-party managed Collective Investment Undertakings (UCITS, AIFs, and PIFs).
The MFSA reminds the Compliance Officers and contact persons of authorised persons to contact it should they find difficulties in submitting their response.
Feel free to contact us should you require any further information on the above.