The MFSA has issued a consultation paper in order to present to the industry a draft legal notice setting out further regulations to complement proposed rules in a previously issued consultation paper regarding the VFA requirements for VFA Agents. The draft legal notice set out further regulations on [i] Capital requirements of VFA Agents; [ii] The assesment of competence of applicants; [iii] Mandatory Continous Professional Education; [iv] Designated Persons [v] Application and supervisory fees for VFA Agents.

The consultation period will run until the 11th  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.