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ARTICLE · 09 OCTOBER 2024

Consolidated Rules For Malta Based EMIs And PSPs

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The Malta Financial Services Authority (the "MFSA") recently published Chapter 3 of the Financial Institutions Rulebook ("FIR/03"), marking a key step in strengthening the regulatory framework for payment institutions...

MaltaFinance and Banking
Gaby Zammit
Gaby Zammit
Galyna Podoprikhina
Galyna Podoprikhina
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The Malta Financial Services Authority (the "MFSA") recently published Chapter 3 of the Financial Institutions Rulebook ("FIR/03"), marking a key step in strengthening the regulatory framework for payment institutions and e-money institutions. The revised FIR/03 outlines comprehensive rules aimed at ensuring these institutions comply with both prudential and operational standards.

Here is a quick overview of the key updates

The revised rulebook will roll out in two stages:

  • Stage 1 (15 October 2024) covers general requirements except governance and safeguarding obligations.
  • Stage 2 (15 December 2024) introduces new governance and safeguarding measures, giving institutions time to adapt.

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