The Authority has undertaken a reform of the Personal Questionnaire form used for the due diligence assessment of individual qualifying shareholders, members of the management bodies and key function holders of potential applicants, as well as other licensed entities.
As part of the review, the format of some questions was amended whilst others were included for the following reasons:
1. To obtain information on certain aspects considered to be relevant for undertaking a complete assessment of the fitness and properness of the applicant in question, which aspects were not specifically addressed in the previous format;
2. To improve the speed of the due diligence process;
3. To ensure the complete submission of documentation which should accompany the Personal Questionnaire Form by including a checklist which the applicant is required to fill in.
The updated Personal Questionnaire Form together with the amended Rules effective from 1 December 2015 can be accessed through the Authority's website.
MFSA Newsletter – October 2015
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.
