All Maltese registered license holders are required to appoint an individual responsible for adherence to the Standard Licence Conditions, listed under the Investment Services Rules for Investment Service Providers and Collective Investment Schemes, known as a Compliance Officer. While the final responsibility for compliance lies on the Board of Directors or the General Partners of a fund, the role of the Compliance Officer requires on-going supervision and control over the activity of a company to ensure that this is in line with regulatory requirement and hence avoid possible breaches. The Compliance Officer is also to ensure that ambiguous or inappropriate information is presented to the MFSA. Any shortcomings are to be reported to the Board of Directors. Therefore such a role requires that the Compliance Officer be a responsible person who is familiar with the aforementioned Standard Licence Conditions. Our technical and highly qualified staff are able to provide clients with a Compliance Officer duly approved by the Malta Financial Services Authority to ensure that statutory requirements are met diligently, thus safeguarding the Fund’s reputation and that of Malta.
The Compliance Officer may also act as the Money Laundering Reporting Officer (MLRO), provided that this same person is not involved in the performance of the services or undertakings which are being monitored under the capacity of Compliance Officer, unless specific consent is obtained from the MFSA. The MRO performs this role in line with the PMLA, PMLFTR and Implementing Procedures