Malta’s financial services regulator, the Malta Financial Services Authority (MFSA), has signalled its willingness to fast-track applications for structures issuing insurance linked securities (ILS), provided timeframes are agreed with participants in advance and accurate and complete information is provided at every stage of the structuring and documentation process.
The MFSA’s commitment was made in a feedback statement published on the authority’s web site on 11 December 2013. The feedback statement sets out the MFSA’s response to comments received during the consultation period on the RSPV Regulations that took place earlier during 2013.
A final version of the RSPV Regulations was also published alongside the feedback statement.
It is anticipated that the RSPV Regulations will come into force in the coming weeks following the passage through Parliament of amendments to the Securitisation Act that will provide for the authorisation of RSPVs.
More details on the draft RSPV Regulations (pre-consultation) can be found in our previous article on the topic.
For more information or if you have any questions, please feel free to contact Dr. Matthew Mizzi (Advocate, Insurance Securitisation) or Dr. Matthew Bianchi (Partner, Insurance & Reinsurance) or Mr. Richard Ambery (Partner, Capital Markets).