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.
The 2013 STEP Geneva Conference on Opportunities for the Wealth Management Industry in Switzerland was held on 29th of April,
A report published by Fitch Ratings and dated 16 April 2013 affirms Malta’s long-term foreign currency and local currency ratings
On 10th April, the European Commission published its In-depth review for Malta under the 2011 Regulation on the prevention and
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.
On the 27th of March 2013, the European Insurance and Occupational Pensions Authority ("EIOPA") launched a public consultation on the Guidelines issued as part of the preparation of the implementation of Solvency II.
Central Bank Governor Josef Bonnici has dismissed as “misleading” any comparison between Malta’s banking system and that of Cyprus.
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.
Financial Times makes reference to the comments by the Central Bank of Malta Governor in an article entitled Small states reject Cyprus comparisons.
The Malta Financial Services Authority (MFSA) has today issued a consultation note regarding the proposed introduction of a rulebook (the Rulebook) applicable to de minimis Alternative Investment Fund Managers (AIFM). This is the MFSA’s third consultation regarding the implementation of the Alternative Investment Fund Managers Directive (AIFMD). The consultation period runs until 5th April, 2013.