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.
News & Events
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.
Chambers & Partners, the internationally renowned legal guide, has re-confirmed GANADO Advocates' Band 1 (Top Tier) ranking in its 2013 edition of the Chambers Global guide for all practice areas covered for Malta.
The results of the general elections held on 9th March, 2013 means that a new party is in government for the first time in 15 years. The new government has already signalled its commitment towards continuity and that it will sustain existing policies in the key economic and commercial sectors, including the financial, maritime and aviation service sectors, amongst others.
The second issue of the Structured Finance Newsletter has been published and is available by clicking here.
GANADO Advocates recently attended a public consultation session in Malta promoted by the European Commission in the EU Member States. The Commission is again examining the feasibility of introducing a Directive on the cross-border transfers of registered offices of companies as a way of further enhancing freedom of movement and establishment within the whole Community and simplifying business relocation within EU territory, invariably an onerous and difficult process. The purpose of the consultation is to procure more in-depth information on the costs currently faced by companies transferring their registered office abroad and on the benefits that could arise as a result.
A two-day international conference on Opportunities in Business Jets and Superyachts was held in Malta on 4 and 5 March, 2013.
On 7th March, 2013 the MFSA published revisions to Appendix 1 to the Investment Services Rules for Professional Investor Funds (the “PIF Rules”) and Appendix 7 to the Investment Services Rules for Retail Collective Investment Schemes to enshrine the provisions of CESR’s Guidelines on a Common Definition of European Money Market Funds (CESR/10-049) (the “CESR Guidelines”).
MFSA consultation on the proposed amendments to the Trusts and Trustees Act and other related legislationGANADO Advocates - March 8, 2013 - Categories: Practice News
On the 14th of December 2012, the Malta Financial Services Authority (MFSA) issued a consultation document comprising proposed amendments to the Trusts and Trustees Act (Chapter 331 of the Laws of Malta), which is the main body of law that regulates trusts and trustees under Maltese law, and other related legislation.