Financial Services (Prudential and Statistical Returns) (Amendment) Order, 2024

Summary

This Order amends Schedule 9 of the Financial Services (Prudential and Statistical Returns) Order by adding registered Virtual Asset Service Providers (VASPs) to the list of persons captured by paragraph (a). The practical effect is to bring VASPs registered under the Virtual Asset Service Providers Act, No. 17 of 2022 within the scope of the prudential and statistical returns regime that already applies to the other entity categories listed in that paragraph.

• Amendment made: Schedule 9, paragraph (a) is amended to add a new subparagraph (iv) covering a person registered as a Virtual Asset Service Provider (VASP) under section 7(1) of the Virtual Assets Service Providers Act, No. 17 of 2022.
• Drafting change: The word 'and' is removed from the end of subparagraph (ii) and added to the end of subparagraph (iii) to accommodate the new subparagraph (iv).
• Commencement: The Order is deemed to have come into force on 1 December 2024, despite being gazetted later.

Key obligations

• Registered Virtual Asset Service Providers are now included within Schedule 9 of the Financial Services (Prudential and Statistical Returns) Order and must comply with the prudential and statistical returns filing requirements applicable to that category, as set out in the principal Order.

Applies to

Virtual Asset Service Providers (VASPs) registered under the Virtual Assets Service Providers Act, No. 17 of 2022

Deadlines

• 1st day of December, 2024: Date on which the Order is deemed to have come into force

Related documents

• This document is made under Financial Services Commission Act (Revised Edition 2020)