The Malta Financial Services Authority (MFSA) has just published an updated version of Chapter 3 of the Financial Institutions Rulebook (FIR/03) on 20th November 2025, introducing a series of revisions intended to enhance regulatory clarity, improve supervision and better reflect developments in the financial services sector.
One of the most significant updates is the explicit inclusion of Account Information Service Providers (AISPs). The revised chapter clarifies which rules apply to AISPs and aligns the framework more closely with the European open-banking environment. Previously, AISPs operated within a more generalised regulatory context. This latest version gives them a dedicated structure within FIR/03, reflecting their growing importance in the payments ecosystem.
The MFSA has also implemented a range of enhanced supervisory requirements, particularly in areas of governance, risk management and internal controls. The changes appear to stem from supervisory findings and are intended to promote stronger organisational oversight across the sector.
Reporting obligations have been strengthened as well. The updated rulebook now mandates that all licensed financial institutions submit an annual organisational structure chart as part of their regulatory returns. Furthermore, the MFSA announced that an updated version of the Financial Institutions Return (FI Return) will be released in the coming weeks. Firms will be required to use the new template for their next scheduled submission, in line with the immediacy of the rulebook changes.
All updates take effect from the date of publication. The MFSA has encouraged institutions to begin aligning their internal frameworks without delay. It also signalled that further amendments to Malta’s financial institution regulations are expected, with additional guidance to be published on its website in due course.
As Malta continues to position itself as a regulated yet innovation-friendly environment for fintech, payments and account-information providers, the updated FIR/03 underscores the MFSA’s intent to strengthen oversight while keeping pace with the evolving European regulatory landscape.
How BDO Malta Can Help
At BDO Malta, we have extensive experience in assisting regulated fintech entities in adhering to current and upcoming regulations issued by the MFSA. Our expert team can provide comprehensive guidance and support, ensuring compliance with legal and regulatory obligations.