The Malta Financial Services Authority has registered nine VFA Agents under the Virtual Financial Assets Act. VFA Agents will be assisting issuers and service providers under the Virtual Financial Assets Act, and will be making applications to the MFSA on their behalf. This announcement follows the in-principle approval provided to fourteen Agents earlier this year. The list of registered VFA Agents is now available on the Authority’s Financial Services Register.
The MFSA has also issued the in-principle approvals for registration of another four VFA Agents. Furthermore, a number of applications for registration are still being vetted. The VFA agent will need to perform a thorough due diligence and KYC on their clients and would need to continue supporting the MFSA in its supervisory function by providing the necessary information during post-registration supervision.
Dr Christopher P. Buttigieg, Chief Officer responsible for Strategy, Policy and Innovation, commented that “the role of the VFA Agent under the VFA Act is primarily that of gatekeeper – a first line of defence which ensures that only persons who are fit and proper enter the financial system. The registration of the first batch of VFA Agents is a major milestone in our regulatory journey in this field. The Authority is now accepting applications for the registration of whitepapers and licencing of VFA Service Providers.”
Registered VFA Agents may now start submitting applications through the MFSA website.