Malta Financial Services Authority (“MFSA”) publishes draft legislative changes to new proposed regime
Further to the consultations on the proposed rulebooks issued in December 2022, on 22 May 2023, the Malta Financial Services Authority (“MFSA”) also issued proposed changes to the legislative framework to also cater for the Notified Professional Investor Funds (“NPIFs”) regime.
The MFSA invites stakeholders to provide their feedback on the proposed legislative changes by 22 June 2023.
The MFSA has proposed changes to the following Regulations:
- L. 370.34 – Investment Services Act (List of Notified AIFs) Regulations;
- L. 370.02 – Investment Services Act (Exemption) Regulations;
- L. 370.03 – Investment Services Act (Fees) Regulations;
- S.L. 331.02 – Trusts and Trustees (Exemption) Regulations; and
- L. 386.02 – Companies Act (Investment Companies with Variable Share Capital) Regulations.
The Investment Services Act (List of Notified AIFs) Regulations primarily provide for the creation of a regime of notified funds which will include NAIFs and Notified PIFs when these are actually launched by the MFSA.
The above may be subject to change following feedback sent to the Authority by relevant stakeholders. Once both regulations and rules are finalized by the MFSA, we will follow-up with a more detailed overview.
In the meantime, further information to the proposed regime may be found here.
Alternatively, please feel free to reach out to us.