The Institute of Financial Services Practitioners (IFSP) has launched a course focusing on the key role of the corporate service provider (CSP) within the financial services industry.

CSPs assist their clients with the establishment of companies, as well as provide directorship, company secretary and registered office services, among others. CPSs are also often the first local point of contact for a customer before any regulator or authority, making them the first line of defence against the use of Malta as a base for undesirable or even criminal activity.

The IFSP noted the increased importance of CSPs in light of Malta’s recent greylisting by the Financial Action Task Force (FATF).

“The quality of service provided is therefore of utmost importance, as is the integrity of the service provider,” said IFSP President Tonio Zarb.

“Anyone providing CSP services must be knowledgeable about the financial services industry and thoroughly versed in best practices. With that, and the recent revision of regulations covering the activities of CSPs, which requires that practitioners hold demonstrable professional preparation, the IFSP recognises the increasing need for CSP-specific education,” he added.

The IFSP brings together a diverse range of related professionals to act as “the voice of the financial services industry in Malta”. It works closely with regulators and competent authorities to communicate to the Government of the day the expertise and perspectives of industry practitioners.

The Course for CSPs – An Introduction to Theory and Practice continues the IFSP’s mission to bolster the sector through strengthening the knowledge of CSPs and standardising high quality throughout corporate services provision in Malta.

The online course, running for the second time from 11th January, covers the essentials a CSP needs to operate fully within the financial services industry. As well as focusing on the principles, framework and legal provisions of CSP services from company formation to directorship, the updated course curriculum also includes the experience gained from the operation of the MFSA’s CSP Framework over the past six months.

Likewise, the course will share expertise with CSPs on the resulting updates to the principles of company law and applicable regulatory framework, including AML requirements, taxation and ethics.


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