The MFSA has issued a consultation paper in order to present to the industry a draft legal notice setting out regulations on [i] the high level principles which VFA service providers must adhere to; [ii] licensing requirements for VFA Service Providers; [iii] ongoing obligations for VFA Service Providers; and [iv] enforcement and sanctions in the event of misconduct by VFA Service Providers.
The consultation period will run until the 14th September.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.