Payment and e-money institutions authorised under the Financial Institutions Act (Cap. 376) are required to safeguard clients’ funds in accordance with applicable regulatory requirements.  This is fundamental to give consumers confidence that their funds are protected. 

The rationale behind safeguarding clients’ funds is fully understood and universally accepted, but the practical application of regulatory principles has proven at times to be rather complex.

Embark can assist in developing a robust safeguarding of funds framework.  Get in touch should you wish to learn more on how we can help.

This article was authored by Pierre-Paul Gauci (Senior Advisor – Regulatory and Business)

We are today launching a new series of informative articles covering key compliance issues in payment services.  Our articles will help you navigate the complex world of payments compliance helping you keep up-to-date with latest developments in this space.

All eyes are set on the European Commission which is currently undergoing a review of the second Payment Services Directive (PSD2). While it is expected that a first legislative draft shall be published in Q2 2023, the coming into force of the revised Directive is expected to be well beyond 2023 in view of the long-wielded EU legislative processes.

In this article, we critically analyse key proposals made by the European Banking Authority in response to a Call for Advice by the European Commission – a first step towards shaping a revised Directive.

Embark (Malta) Ltd can provide you with specialist advisory services in relation to your payment and/or e-money business.

This article was authored by Pierre-Paul Gauci (Senior Advisor – Regulatory and Business)