Maltàs grey-listing, more than 100 firms ceased operations

VALLETTA (MALTA) (ITALPRESS/MNA) – The Malta Financial Services Authority announced that more than 100 licensed firms and funds renounced their operational license since Malta was grey-listed by the Financial Action Task Force.
Maltese Finance Minister Clyde Caruana recently declined to give such information to Parliament. Prior to grey listing, the Finance Minister answered questions with all relevant details on firms who opted to close their Malta operations.
This negative trend which started in 2018, includes surrendered licenses related to operation of financial services firms, specific sub funds and SICAV companies.
Last October, an EY Malta survey revealed that Maltàs attractiveness for business reached an all-time low.
A delegation from FATF is expected to visit Malta next month to assess the government’s anti-money laundering measures and the fight against the financing of terrorism.

Source: medNews