Financial Markets Act (Off-Market Deals) Regulations, 2007

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 18,141, 30 ta’ Ottubru, 2007

L.N. 332 of 2007

FINANCIAL MARKETS ACT

(CAP. 345)

Financial Markets Act (Off-Market Deals) Regulations, 2007

IN exercise of the powers conferred by article 3 and 49 of the

Financial Markets Act, the Prime Minister and Minister of Finance,

acting on the advice of the Malta Financial Services Authority as the

competent authority for the purposes of the Act, has made the following

regulations>

(1) The title of these regulations is the Financial Markets Title and

commencement.

Act (Off- Market Deals) Regulations, 2007.

(2) These regulations shall come into force on the 1st

November, 2007.

(1)

In these regulations, unless the context otherwise Interpretation.

requires>

“the Act” means the Financial Markets Act<

“authorised intermediary” means an investment firm within

the meaning of the European Passport Rights for Investment Firms

Regulations, 2007 licensed to execute orders on behalf of clients L.N. 325 of 2007.

and, or to deal on own account by the competent authority or

authorised by a European regulatory authority<

“competent authority” means the Malta Financial Services

Authority appointed under article 2 of the Act<

“listed financial instrument” means a financial instrument

listed and traded on a regulated market authorised in terms of article

4 of the Act.

(2) Words and expressions which are also used in the Act

shall have the same meaning as in the Act.

Listed financial instruments may be traded outside a regulated Conditions for Off-

market provided that the trade is executed by an authorised intermediary Markets Trading.

and that the authorised intermediary shall have, prior to the execution

of such trade, pre-validated such trade by confirming that the listed

financial instruments to be traded are held by the seller.

(1) An authorised intermediary shall report the particulars

of a transaction in listed financial instruments executed outside a

regulated market specified in sub-regulation (2) to the central securities

depositary which holds the register of such financial instruments .

(2) The following is a list of the particulars referred to in

sub-regulation (1)>

(a)

financial instrument traded<

(b) financial instrument identification<

(c)

trading day and time<

(d) type of transaction (buying and selling)<

(e)

(f)

volume<

(g) settlement date<

(h) client details including name, identity card number, or

passport number and address<

(i) such other particulars as may be required by the relevant

central securities depositary.

Every authorised intermediary, if more than one, involved in

a transaction, shall be obliged to submit a separate report drawn up in

accordance with regulation 4.

In respect of every transaction reported to it in pursuance of

regulations 4 and 5, the central securities depositary shall as close

through real-time as possible, through the regulated market on which

those financial instruments are listed and traded, disclose to the public

the information listed under paragraphs (a) to (c), (e) and (f) of regulation

4 (2), together with such additional particulars as may be specified in

bye-laws issued by the said regulated market.

The Off-Exchange Trading Regulations, 2004 are hereby being

repealed.

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press

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