AIFM Self-Assessment Questionnaires issued – deadlines set

David Borg-Carbott - May 10, 2013 - Categories: Practice News
The Malta Financial Services Authority (MFSA) has today issued two Self-Assessment Questionnaires for already authorised Maltese Fund Managers and Self-Managed Funds (other than UCITS Schemes) in order to assist them in the transition to the new AIFMD regime by 22 July, 2014. In this regard, the MFSA indicates that a completed Self-Assessment Questionnaire should be submitted before 31 March, 2014 in order to meet the deadline for compliance.

MFSA publishes Feedback Statement on Proposals for Cross Sub-Fund Investments by PIFs

David Borg-Carbott - May 9, 2013 - Categories: Practice News
In October of last year, the Malta Financial Services Authority (MFSA) published a circular regarding the proposed introduction of a new rule in the MFSA’s Rulebook for Professional Investor Funds (the PIF Rulebook) permitting cross sub-fund investments by Maltese Professional Investor Funds (PIFs) targeting Qualifying Investors (QIFs) or Extraordinary Investors (ExtraIFs). A copy of the original circular can be obtained here to which GANADO Advocates provided its comments. The MFSA has today issued its Feedback Statement setting out its conclusions and the relevant new Rule.

MFSA publishes Feedback Statement on Malta’s AIFMD implementation measures

David Borg-Carbott - May 9, 2013 - Categories: Practice News
On 3 December, 2012 the Malta Financial Services Authority (MFSA) published its second Consultation Note regarding the proposed implementation of AIFMD including the proposed Standard Licensing Conditions (SLCs) for Alternative Investment Fund Managers (AIFM) and for custodians / depositaries of Alternative Investment Funds (AIFs). Our news item on this and a copy of the relevant Consultation Note can be found here. The MFSA has now published its Feedback Statement on the key issues raised during the consultation and noted that most of the industry’s suggestions were taken on board.

MFSA Issues Report on the 2012 Standard Formula Exercise for Solvency II

GANADO Advocates - May 6, 2013 - Categories: Other News
On the 30th of April 2013, the Malta Financial Services Authority (the “MFSA”) issued a report on the 2012 MFSA Standard Formula Exercise for Solvency II. This report summarises the results of the calculation of the standard formula for re/insurance undertakings that participated in the 2012 MFSA standard formula exercise.

Malta’s Banking Sector is Robust and Stable

GANADO Advocates - April 2, 2013 - Categories: Other News
Malta contributes actively to these institutions’ (ESRB and ESA's) oversight activities which have included the stress-testing of systemically important banks. Furthermore, the national financial regulatory and supervisory system is regularly subject to assessments by international organisations including the EU and the IMF.