Following recent developments, the Malta Financial Services Authority (MFSA) has introduced new application packs for PIFs, AIFs and UCITS. The objective is to replace the current regime by 1 March, 2017.

Most notably, the MFSA is committing to revert with initial comments within the following timeframes:

    1. UCITS / Retail AIFs: 15 working days for new schemes and 10 working days for sub-funds of existing schemes;
    2. PIFs/AIFs: 10 working days for new schemes and 5 working days for sub-funds of existing schemes; and
    3. Self-Managed UCITS/PIFs/AIFs and Specialised Funds: 15 working days for new schemes and 10 working days for sub-funds of existing schemes.

Apart from updating the current application forms, the MFSA has also created new Offering Documentation and UCITS Depositary Agreement Checklists with the aim of facilitating the overall review.

The updated application packs can be accessed here.