MGA completes review of feedback on proposed Recognition Notice framework updates
Regulation1 min read
Source: MGA (Malta)
In brief
- The MGA has finished reviewing feedback from its targeted consultation on proposed Recognition Notice framework updates.
- A Feedback Statement has been sent to Recognition Notice holders and their representatives.
- The MGA said the feedback led to refinements to keep the revised approach proportionate, risk-based and practical.
- Further information on how specific requirements will apply in practice is to follow.
The MGA announced that it has finished examining the responses gathered through a targeted consultation on suggested changes to the Recognition Notice (RN) Framework. Holders of Recognition Notices and their representatives have been sent a Feedback Statement, which summarises the feedback received, the Authority's position and the way forward.
The MGA said the consultation gave it the opportunity to consider the proposed approach and how it would work in practice. According to the authority, the feedback led to a number of refinements so that the revised approach remains proportionate, risk-based and practical for Recognition Notice holders.
According to the Authority, more details about how specific requirements will work in practice will be shared at a later stage. It also expressed gratitude to all stakeholders who participated and shared their views.
Cite as: SectorWire, “MGA completes review of feedback on proposed Recognition Notice framework updates”, https://sectorwire.news/item/mga-completes-review-of-feedback-on-proposed-recognition-notice-framew/