The Institute of Financial Services Practitioners (IFSP) has launched a course that will focus on the key role of the company service provider (CSP) within the financial services industry.
An important pillar to Malta’s financial services sector, CSPs assist customers with the establishment of companies, as well as provide directorship, company secretary and registered office services, among others. The CSP is also often the first local point of contact for a customer before any regulator or authority, making them the first line of defence against the use of Malta as a base for undesirable or even criminal activity – especially important considering Malta’s recent greylisting by the Financial Action Task Force (FATF).
“The quality of service provided is therefore of utmost importance, as is the integrity of the service provider,” explains IFSP President Tonio Zarb. “Anyone providing CSP services must be knowledgeable about the financial services industry and thoroughly versed in best practices. With that, and the recent revision of regulations covering the activities of CSPs, which requires that practitioners hold demonstrable professional preparation, the IFSP recognises the increasing need for CSP-specific education.”
The IFSP brings together a diverse range of related professionals to act as ‘the voice of the financial services industry in Malta’. It works closely with regulators and competent authorities to communicate to the Government of the day the expertise and
perspectives of industry practitioners, while supporting this important economic sector in general.
The Course for CSPs – An Introduction to Theory and Practice continues the Institute’smission to bolster the sector through strengthening the knowledge of CSPs and standardising high quality throughout corporate services provision in Malta.
The online course, running for the second time from 11 January 2022, covers the essentials a CSP needs to operate fully within the financial services industry. As well as focusing on the principles, framework and legal provisions of CSP services from
company formation to directorship, the updated course curriculum also includes the experience gained from the operation of the MFSA’s CSP Framework over the past six months.
Likewise, the course will share expertise with CSPs on the resulting updates to the principles of company law and applicable regulatory framework, including AML requirements, taxation and ethics.
