On 26th March, 2013, the Malta Financial Services Authority (MFSA) issued a consultation note regarding the proposed introduction of a rulebook (the Rulebook) applicable to Alternative Investment Funds (AIF).

This is the MFSA’s fourth consultation regarding the implementation of the Alternative Investment Fund Managers Directive (AIFMD) (and barring one regarding the ESMA remuneration guidelines, potentially the last major one). The consultation period runs until 26th April, 2013.

A copy of the MFSA’s consultation note and the draft Rulebook can be obtained by clicking here.

The proposed AIF Rulebook is designed to provide Maltese/EU AIFMs with a simple regulatory framework based on the existing Maltese Professional Investor Fund (PIF) regime which will allow AIFMs to establish “AIFMD-ready” funds for marketing to professional investors in Malta or across the EU. In keeping with the present PIF regime, the Rulebook also provides for the establishment of self-managed AIFs.