Inspired by the risks inherent in the Fintech market, the MFSA and the FIAU issued a Guidance Document for Credit Institutions, Payment Institutions and Electronic Money Institutions opening accounts for FinTechs. The rationale behind this Guidance Document, which is subject to consultation, aims to make these institutions aware of the risks of any prospective customers who are active in technology reliant areas.
This Consultation is open to the public until 30 April 2019.
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.