Revised Implementing Procedures Published By FIAU

On Monday 18 October 2021 the FIAU published a revised version of the Implementing Procedures (IPs) Part 1 to 'transpose' the proposals that the FIAU had issued for a consultation back in March 2021 (and which the Institute of Financial Services Practitioners together with STEP Malta, on which Ganado Advocates is represented, had submitted their feedback). Some of the amendments made were merely intended to bring the IPs in line with recent legislative changes (such as the inclusion as a relevant activity for estate agents of rentals when the monthly rent is ?10,000 or more and the reference to persons trading in works of art and freeports).

Once again the FIAU has published a useful version of the IP with the various changes made tracked for easy identification, as has now become customary for them, and this is very much welcomed by practitioners and subject persons alike.