The 30 June 2026 deadline is fast approaching for in-scope listed companies to fulfil the gender balance targets laid down in Chapter 13 of the Malta Financial Services Authority (‘MFSA’)’s Capital Markets Rules (implementing Directive (EU) 2022/2381). These requirements do not apply to debt issuers and micro, small and medium-sized enterprises.
What must be achieved?
By 30 June 2026, companies must meet one of the following targets:
- At least 40% of non-executive directors are of the underrepresented sex; or
- At least 33% of all directors (executive and non-executive) are of the underrepresented sex.
Reporting and disclosure obligations
In addition to meeting the targets, companies are subject to ongoing annual reporting and disclosure obligations, including:
- Submitting information on the gender composition of their boards, distinguishing between executive and non-executive directors, to the MFSA;
- Disclosing the measures taken to achieve the gender balance targets;
- Publishing this information on the company’s website and, where applicable, in the Corporate Governance Statement; and
- Where targets are not met, explaining the reasons for non-compliance and outlining the corrective measures taken or intended to be taken.
The next reporting cycle is imminent, with submissions expected by 1 July 2026.
Next steps
With only weeks remaining, in-scope companies should consider the following steps:
- Review their current board composition against the applicable thresholds;
- Document policies and measures supporting gender balance; and
Ensure that internal teams are prepared to meet reporting and disclosure requirements on time.
This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact Dr. Christine Calleja.