Author: Karl Diacono, CEO
With the new COMPANY SERVICE PROVIDERS RULEBOOK published by the MFSA, as of today 16th March 2021 many service providers who previously did not require authorisation from the MFSA to provide corporate services now do. This includes accountants, lawyers and any other person offering corporate services including acting as director or company secretary if a threshold of 10 posts, as defined in the Rule Book, is surpassed. This places new compliance obligations on the service provider that may include, for some, Anti Money Laundering obligations.
Fenlex has been in the Corporate Services industry since the late 1980’s and has gained years of experience to allow it to provide assistance to professionals in the market to either review and improve their compliance function or build it from the bottom up. We provide assistance in building the documentation library required as well as training programmes and compliance audits. We also provide a technology solution.
Back in 2016, a discussion with Aqubix was what sparked the development of KYCP Portal, a tool that would help in the process of collecting, risk scoring, storing, updating and monitoring client data in relation to one’s AML obligations. Fenlex assisted Aqubix in the design stage of the tool. We helped build it and have been using it for the last three years, refining the application over time. Together with well-built policies and procedures KYCP Portal makes compliance that much easier.
We have a team of dedicated professionals with various compliance backgrounds who are ready to assist you. Feel free to contact us at firstname.lastname@example.org