The MFSA’s Investment Service Rules can be found here.
This includes Rule books for:
The Law and Regulations regulating Collective Investment Schemes in Malta are the following:
- UCITS Directive (and related Regulations and Guidelines)
- AIFM Directive (and related Regulations and Guidelines)
- The Investment Services Act (ISA), and its subsidiary legislation, is the principal legislative enactment governing the fund industry in Malta.
- Companies Act and all subsidiary legislation made under this chapter applicable to retail funds.
- The MFSA’s Investment Services Rules issued by the MFSA (see below)
- The Listing Rules (Admissibility requirements for Collective Investment Schemes). These are issued by the MFSA and are applicable to collective investment schemes listed on the Malta Stock Exchange.
The MFSA’s Investment Service Rules
Rules for Alternative Investment Funds
Under Standard Licensing conditions for Alternative Investor Funds, there are:
Retail Collective Investment Schemes
The Rules for Retail Collective Investment Schemes include:
- Part B I – Malta based Retail Non-UCITS Collective Investment Schemes and
- Part B II – Malta based Retail UCITS Collective Investment Schemes
- Appendix VI – Supplementary Licence Conditions on Risk Management, Counterparty Risk Exposure and Issuer Concentration applicable to Maltese Retail Collective Investment Schemes set up as Maltese UCITS
- Appendix VII – Supplementary Licence Conditions Applicable to Schemes set up as Money Market Funds
Rules for Professional Investor Funds
Under Standard Licensing conditions for Professional Investor Funds, there are:
*Part B I includes the investment rules for PIFs targeting Experienced Investors, including:
- Supplementary Conditions for PIFs investing directly or indirectly in immovable property
- Supplementary Conditions for PIFs engaged in foreign currency lending
Other
MFSA has published a wide range of Guides, including the below:
- A Guide on Establishing an Alternative Investment Fund Manager in Malta
- A Guide on Establishing Incorporated Cell Companies in Malta
- A Guide to Investment Services in Malta
- A Guide to the Establishment of Collective Investment Schemes
- A Guide to the Establishment of Professional Investor Funds
- Guidance Note for Shariah Compliant Funds
The MFSA has issued a series of Announcements and circulars: Click here.