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Banking & FinanceInsurance & ReinsuranceInvestment Services & FundsNews and PublicationsRegulatory Compliance

Regulatory Compliance Quarterly Update | Q4 2022

We are pleased to issue our third edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to Investment Services and Asset Management; Credit and Financial Institutions; Company Service Providers and Insurance Undertakings and Insurance Intermediaries. Our Regulatory Compliance Quarterly Update can be found here. Our third Regulatory Compliance Quarterly Update can be found hereThe Regulatory Compliance Quarterly Update does not purport to give legal, regulatory,financial…
Mamo TCV Advocates
25th January 2023
MFSA issues a Consultation Document on the Proposed Notified PIF Framework
Investment Services & Funds

MFSA issues a Consultation Document on the Proposed Notified PIF Framework

On 22 December 2022, the Malta Financial Services Authority (‘MFSA’ or ‘the Authority’) issued a stakeholder consultation on the proposed establishment of a new framework for Notified Professional Investor Funds (‘NPIFs’). The NPIF framework proposal seeks to introduce a new fund structure, complementing the existing fund frameworks in Malta. The framework will bring about lower barriers to entry for professional investor funds through a risk-based and proportionate approach. On 28 October 2021, the MFSA issued a Discussion Paper on its Asset Management Strategy. The introduction of a NPIF regime was one of the proposals set out in Pillar III –…
Martha Chetcuti
20th January 2023
Documents still need to be submitted to the MFSA, but digital signatures can replace wet-ink signatures.
Investment Services & FundsLegal Update

MFSA Issues Circular on Qualified Electronic Signatures

In a circular dated the 15th of November 2022, the Malta Financial Services Authority (“MFSA”) confirmed that electronic signatures which are done with a ‘qualified electronic signature’ shall be accepted by the MFSA. The MFSA made reference to Article 25(2) of Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23rd July 2014 on electronic identification and trust services for electronic transactions in the internal market (“eIDAS”)  which stipulates that digital signatures are only valid in the European Union if they are done with a provider which has been recognised by at least one EU Member…
Mamo TCV Advocates
30th November 2022
The MFSA issued a Circular to inform licence holders of the minor amendment made to the Annual Fund Return.
Investment Services & Funds

Amendment to the Annual Fund Return

On the 12th of April 2021, the Malta Financial Services Authority (‘MFSA’) introduced the requirement for all collective investment schemes that are locally licensed or notified to submit a novel return, being the Annual Fund Return. Various amendments to the Annual Fund Return have been made as can be seen in the Circular issued by the MFSA on the 21st of December 2021, along with the updated Guidelines. On the 18th of November 2022, the MFSA issued a Circular to inform licence holders of another minor amendment made to the Annul Fund Return. The MFSA informed the public that the…
Anthea Sammut​
25th November 2022
Banking & FinanceInsurance & ReinsuranceInvestment Services & FundsNews and PublicationsRegulatory Compliance

Regulatory Compliance Quarterly Update | Q3 2022

We are pleased to issue our second edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to Investment Services and Asset Management; Credit and Financial Institutions and Insurance Undertakings and Insurance Intermediaries. Our second Regulatory Compliance Quarterly Update can be found hereThe Regulatory Compliance Quarterly Update does not purport to give legal, regulatory,financial or tax advice. Should you require further information or assistance, please do…
Mamo TCV Advocates
24th October 2022
The Introduction of an Updated Process for the Reporting of Major ICT-Related Incidents
Investment Services & Funds

The Introduction of an Updated Process for the Reporting of Major ICT-Related Incidents

On the 12th of July 2022, the Malta Financial Services Authority (the “MFSA”) issued a Consultation Document on the reporting of major ICT-related incidents with a consultation period expiring on the 5th of August 2022. The MFSA worked on introducing an updated major ICT-related incident reporting process that replaces the previous process that was communicated on the 25th of September 2019 entitled ‘Cybersecurity - Threat Mitigation’. The former process was introduced with the aim of safeguarding national as well as international financial institutions from malicious attack campaigns. The MFSA issued a renovated major ICT-related incident reporting process in line with…
Anthea Sammut​
17th October 2022