Brexit considerations for UK licenced Investment Funds, Asset Managers and Investment Firms passporting into Malta
Authors: Neil BezzinaPublished on July 16, 2019
Tags: Asset Management, Brexit, Investment Funds, investment services
Practices: Investment Funds, Investment Services Regulation, Asset Management
Important dates to keep in mind
- Maltese collective investment schemes are to amend offering documentation and relevant agreements with UK service providers, to reflect any changes resulting from Brexit, by not later than 31 July 2019;
- Malta Temporary Permission Regime (“TPR”) to remain in force till 31 March 2020;
- TPR will only apply to clients/contracts on-boarded/entered into prior to 31 September 2019;
- As of 1 April 2020, UK licenced investment funds, asset managers and investment firms will be subject to laws relating to third country investment funds, asset managers and investment firms; and
- TPR will not cover new investors/clients on-boarded after 31 September 2019.