Investment Services Rules



    Investment Services Rules for Investment Services Providers

    Table of Contents

    Introduction

    Part A – The Application Process

    Part A

    The Application ProcessNEW CONTENT TO BE NOTED

    Self-Assessment Questionnaires

    NEW CONTENT TO BE NOTED

    Self-Assessment Questionnaire for Fund Managers and Self-Managed Collective Investment Schemes applying for an AIFM Licence

    Self-Assessment Questionnaire for Fund Managers and Self-Managed Collective Investment Schemes applying as de minimis Licence Holders

    Schedule A1

    Application Form for an Investment Services Licence – NEW CONTENT TO BE NOTED [APPLICABLE TO DE MINIMIS LICENCE HOLDERS]

    Schedule A2

    Application Form for an Investment Services Licence as an Alternative Investment Services Fund Manager - NEW CONTENT TO BE NOTED [APPLICABLE TO AIFMS]

    Schedule B

    Application Form for Registration of Tied Agents

    Schedule C

    Financial Resources Statement

    Schedule DI

    Notification Letter for Investment Services Licence Holders wishing to provide cross-border services under the freedom to provide services in another EU or EEA Member State

    Schedule DII

    Notification Letter for UCITS Management Companies wishing to provide cross-border services under the freedom to provide services in another EU or EEA Member State

    Schedule DIII

    Notification Letter for AIFMs wishing to provide cross-border services under the freedom to provide services in another EU or EEA Member State - NEW CONTENT TO BE NOTED

    Schedule EI

    Notification Letter for Investment Services Licence Holders wishing to provide cross-border services via the establishment of a branch in another EU or EEA Member State

    Schedule EII

    Notification Letter for UCITS Management Companies wishing to provide cross-border services via the establishment of a branch in another EU or EEA Member State

    Schedule EIII

    Notification Letter for AIFMs wishing to provide cross-border services via the establishment of a branch in another EU or EEA Member State. - NEW CONTENT TO BE NOTED

    Schedule F

    Personal Questionnaire

    Schedule G

    Questionnaire for qualifying shareholders other than individuals

    Schedule H

    List of Information Required for the Assessment of an Acquisition

    Schedule I

    Competency Form - NEW CONTENT TO BE NOTED

    Part B – Standard Licence Conditions - NEW RULEBOOK

    Part BI

    Standard Licence Conditions applicable to Investment Services Licence Holders which qualify as MiFID Firms

    Part BII

    Standard Licence Conditions applicable to Investment Services Licence Holders which qualify as UCITS Management Companies

    Part BIII

    Standard Licence Conditions applicable to Investment Services Licence Holders which qualify as Alternative Investment Fund Manager

    Part BIV

    Standard Licence Conditions applicable to Investment Services Licence Holders which qualify as Custodians of Collective Investment Schemes

    Appendix 1

    Appendix 1A

    Financial Resources Requirements and Guidance on the compilation of the Financial Return for Category 1, Category 2 (which qualify as Fund Managers) and Category 4b Investment Services Licence Holders

    Appendix 1B

    Capital Resources Requirement and Guidance on the compilation of the automated COREP Return for Category 2 (which qualify as MiFID Firms), Category 3 and Category 4a Investment Services Licence Holders

      Annex 1  Specimen Subordinated Loan Agreement   
    Appendix 2

    Appendix 2A

    Financial Return for Category 1 & Category 4 (only)

    Appendix 2B    

    Financial Return for Fund Managers

    Appendix 2C      

    Automated COREP Return

    Appendix 3

    Consolidated Capital Resources Requirement and Guidance on the compilation of the automated COREP Return for Consolidations

    Appendix 4  

    Technical Criteria on the Disclosure Requirements for Investment Services Licence Holders

    Appendix 5

    Penalties

    Appendix 6

    Insurance Covers

    Appendix 7

    Record Keeping

    Appendix 8

    Transaction Reporting

    Appendix 9

    Definition of Close Links

    Appendix 10

    Requirements on Risk Management and Internal Capital Adequacy Assessment for Investment Services Licence Holders

    Appendix 11

    Supplementary Licence Conditions on Risk Management, Counterparty Risk Exposure and Issuer Concentration

    Appendix 12

    Remuneration Policy

    Appendix 13 Transparency Requirements

    Annex 1

    AIFM- Specific Information to be Reported Specific Information to be reported (Article 3(3) and Article 24(1) AIFMD)

    Annex 2

    AIF-Specific Information to be reported (Article 3(3) and Article 24(1) AIFMD) 

    Annex 3

    AIF-Specific Information to be reported (Article 24(2) AIFMD)

    Annex 4

    AIF-Specific Information to be reported (Article 24(4) AIFMD)

    Annex 5

    AIF-Detailed List of all AIFs managed by the AIFM

    Appendix 14

    Results of Stress Tests – Risk Management Function - Deleted

    Appendix 15

    Results of Stress Tests – Liquidity Management Function - Deleted 

     (Note: Appendices 14 and 15 are being deleted since the information required is being reported in Sections 279 and 280 of Annex 3 of Appendix 13)
    Appendix 16 Complaints Handling
       

    Part C - Rules for Persons Exercising European Passport Rights in Malta

    Part CI

    Rules for Maltese Branches of European Investment Firms

    Part CII

    Rules for European Management Companies providing services in Malta

    Part CIII

    Rules for European AIFMs providing services in Malta - NEW CONTENT TO BE NOTED

    Part CIV

    Rules for Third Country AIFMs providing services in Malta - NEW CONTENT TO BE NOTED

    Glossary

     

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    Investment Services Rules for Alternative Investment Funds – NEW RULEBOOK

    Table of Contents

    Introduction

    Part A – The Application Process

    Part A

    The Application Process

    Schedule 1

    Application Form to operate as an Alternative Investment Fund

    Schedule 2

    Personal Questionnaire

    Schedule 3

    Competency Form

    Schedule 4 Notification letter for the marketing of units or shares of EU AIFs in Member States other than the home Member State of the AIFM
       

    Part B – Standard Licence Conditions

    Part B

    Standard Licence Conditions applicable to Alternative Investment Funds

    Appendix 1

    Supplementary Licence Conditions applicable to Alternative Investment Funds adopting different structures

    Appendix 2

    Distributions of Income

    Appendix 3

    Contents of the Constitutional Document

    Appendix 4

    Contents of the Offering Documents

    Appendix 5

    Results of Stress Tests – Risk Management Function - Deleted

    Appendix 6

    Results of Stress Tests – Liquidity Management Function - Deleted

      (Note: Appendices 5 and 6 are being deleted since the information required is being reported in Sections 279 and 280 of Annex 3 of Appendix 8)

    Appendix 7

    Remuneration Policy

    Appendix 8

    Disclosure and Transparency Requirements

    Annex 1

    AIFM – Specific Information to be reported (Article 3(3) and Article 24(1) AIFMD)

    Annex 2

    AIF – Specific Information to be reported (Article 3(3) and Article 24(1) AIFMD)

    Annex 3

    AIF – Specific Information to be reported (Article 24(2) AIFMD) 

       Annex 4 AIF – Specific Information to be reported (Article 24(4) AIFMD)
    Appendix 9   Declaration Forms
    Appendix 10 Complaints Handling 
    Standard Licence Conditions
    Standard Licence Conditions Applicable to Collective Investment Schemes authorised to invest through loans

    Glossary

     

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    Investment Services Rules for Professional Investor Funds

    Table of Contents

    IntroductionNEW CONTENT TO BE NOTED

    Part A – The Application Process

    Part A

    The Application ProcessNEW CONTENT TO BE NOTED

    Schedule A

    Application for a Licence to operate as a Professional Investor Fund - NEW CONTENT TO BE NOTED

    Schedule B

    Application for a Preliminary Indication of Acceptability of a Professional Investor Fund

    Schedule C

    Personal Questionnaire

    Schedule D

    Competency Form

    Part B – Standard Licence Conditions

    Part BI

    Standard Licence Conditions applicable to Professional Investor Funds targeting Experienced InvestorsNEW CONTENT TO BE NOTED

    Part BII

    Standard Licence Conditions applicable to Professional Investor Funds targeting Qualifying InvestorsNEW CONTENT TO BE NOTED

    Part BIII

    Standard Licence Conditions applicable to Professional Investor Funds targeting Extraordinary InvestorsNEW CONTENT TO BE NOTED

    Appendix I

    Supplementary Licence ConditionsNEW CONTENT TO BE NOTED

      Annex 1    AIFM-Specific Information to be reported (Article 3(3) AIFMD)
      Annex 2   AIF- Specific Information to be reported (Article 3(3) AIFMD)

    Appendix II

    Contents of the Offering Documents

    Appendix III

    Declaration FormsNEW CONTENT TO BE NOTED

    Appendix IV

    Quarterly Statistical Return - Deleted

    Appendix V

    AIF- Specific Information to be Reported - Deleted

      (Note: Appendix V is being deleted and is being replaced by Annexes 1 and 2 to Appendix I) 
    Appendix VI  Guidance for AIFMs managing PIFs
    Standard Licence Conditions
    Standard Licence Conditions Applicable to Collective Investment Schemes authorised to invest through loans

    Glossary

     

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    Investment Services Rules for Retail Collective Investment Schemes

    Table of Contents

    IntroductionNEW CONTENT TO BE NOTED

    Part A – The Application Process

    Part A

    The Application ProcessNEW CONTENT TO BE NOTED

    Schedule A

    Application for a Licence to operate as a Malta Based Retail Collective Investment Scheme - NEW CONTENT TO BE NOTED

    Schedule B

    Application for a Licence to operate as an Overseas based Retail Collective Investment Scheme - DELETED

    Schedule C

    Model Notification Letter to be submitted by a Maltese UCITS Scheme wishing to market its units in a host Member State

    Schedule D

    National Rules for Marketing of European UCITS Schemes in Malta

    Schedule E

    Personal Questionnaire

    Schedule F

    Competency Form - NEW CONTENT TO BE NOTED

    Part B – Standard Licence Conditions

    Part BI

    Standard Licence Conditions applicable to Malta based Retail Non-UCITS Collective Investment Schemes - NEW CONTENT TO BE NOTED

    Part BII

    Standard Licence Conditions applicable to Malta based Retail UCITS Schemes

    Appendix I

    Contents of the Prospectus

    Appendix II

    Contents of the Financial Statements

    Appendix III

    Contents of the Constitutional Documents

    Appendix IV

    Distribution of Income

    Appendix V

    Monthly Statistical Return – deleted

    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

    Appendix VIII

    Supplementary Licence Conditions Applicable to Self-Managed Schemes

    Appendix IX

    AIF-Specific Information to be provided - NEW CONTENT TO BE NOTED

    Appendix X  Complaints Handling

    Glossary

     

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