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.
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