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

Christopher P. Buttigieg and Alison Cortis
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Christopher P. Buttigieg: Chief Officer Supervision, Malta Financial Services Authority and University of Malta, Malta
Alison Cortis: Head of CSP Supervision, Malta Financial Services Authority, Malta

Journal of Financial Compliance, 2025, vol. 9, issue 1, 60-70

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/.

Keywords: financial crime; company service providers (CSPs); anti-money laundering (AML) (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2025:v:9:i:1:p:60-70

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