Jan
13

MFSA Update: PMDR Notifications to be Filed Online

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Persons discharging managerial responsibilities ('PMDRs'), or persons closely associated with them, are now required to submit PMDR notifications through the Malta Financial Services Authority's ('MFSA') online form . In terms of the Market Abuse Regulation (Regulation (EU) No 596/2014, hereinafter the 'Regulation'), PMDRs and persons closely associated with them are required to notify the issuer and the MFSA of every transaction conducted on their own account relating to the shares or debt instruments of that issuer once the total value of transactions executed i...
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Nov
04

The Coming into Force of the Investment Firms Regulation and Directive

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The Investment Firms Regulation and Directive (the "IFR/D Package" ) became applicable on the 26 th of June 2021 , introducing a new prudential framework applicable to investment firms. Before the introduction of the new prudential framework, investment firms were subject to the Capital Requirements Regulation and the Capital Requirements Directive. Investment firms must note that certain small firms will still be subject to the Capital Requirements Regulation (" CRR "). Furthermore, investment firms will still be subject to MiFIR and MiFID II irrespective of the ...
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Jul
08

MFSA Reminder: Existing CSPs to Comply with new Rules by September

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This article was written by Dr Simon Pullicino , Dr Petra Attard , and Dr Laura Spiteri The Malta Financial Services Authority (' MFSA ') has issued a circular directed at authorised company service providers (' CSPs ') that were registered to provide CSP services prior to the entry into force of the new CSP rules . CSPs that offered CSP services on the date of entry of the new rules – 16 March 2021 – could only continue to offer such services if they applied for authorisation with the MFSA by the 16 May 2021. This application for authorisation resulted in the MFS...
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Feb
16

MFSA implements Fast-track Filing Procedure for Offering Documents of Collective Investment Schemes amended to comply with the Sustainable Finance Disclosure Regulations.

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Following the entry into force of the Sustainable Finance Disclosure Regulation (" SFDR ") in December 2020, the provisions of the said Regulations will become effective on the 10 th March 2021. By way of background, the SFDR will require financial market participants and financial advisors to make pre-contractual and ongoing disclosures to investors regarding the integration of sustainability risk, the impacts of adverse sustainability, as well as the promotion of ESG characteristics and sustainable investments (as applicable). In this respect, pursuant to a circ...
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Mar
25

COVID-19: MFSA Extends Deadlines for Regulatory Reporting for Trustees and CSPs

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In light of the COVID-19 pandemic, the MFSA has announced that it will be accepting delays in some of the reporting requirements relating to submissions as required from Trustees and Corporate Service Providers (" CSPs ") and which fall due by March or April 2020. Audited Annual Financial Statements The MFSA is granting Trustees and Corporate Service Providers an extension of two months for the submission of the Audited Annual Financial Statements which are due by March or April 2020. Annual Compliance Return No extension has been granted in respect of the submiss...
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