In terms of the the MFSA Rules for Company Service Providers (“CSPs”), CSPs are required to submit a Certificate of Compliance and an Annual Financial Return. On the 13th April, 2015, the MFSA issued a Circular with respect to such submissions.
Certificate of Compliance
The Certificate of Compliance, which is essentially a statement whereby the CSP confirms that all activity has been conducted in accordance with the law, the relevant MFSA Rules and any directives or recommendations issued by the MFSA, is to be submitted to the MFSA in terms of the relevant MFSA Rules. The Circular clarifies that such Certificate must cover one calendar year (1st January to 31st December) and must be submitted to the MFSA, along with the relative Annual Supervisory Fee, by not later than the 31st January of each year. Those CSPs registered in 2014 and 2015 should file their first Certificate of Compliance covering the period from their date of registration to 31st December 2015.
Annual Financial Statements
Audited financial statements, a copy of the auditor’s management letter and the auditor’s report must be submitted to the MFSA within four months from the Accounting Reference Date of the CSP.
Annual Financial Return
The MFSA informed CSPs that the format and yearly submission date of such return are soon to be issued for consultation by the MFSA.