Regulations, 2012

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 18,920, 25 ta’ Mejju, 2012

L.N. 175 of 2012

FINANCIAL MARKETS ACT

(CAP. 345)

European Rights for Regulated Markets (Amendment)

Regulations, 2012

IN exercise of the powers conferred by article 49 of the

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

Investment, acting on the advice of the Malta Financial Services

Authority, has made the following regulations:-

(1)

The title of these regulations is the European Citation and

Rights for Regulated Markets (Amendment) Regulations, 2012, and scope.

these regulations shall be read and construed as one with the

European Rights for Regulated Markets Regulations, hereinafter S.L. 345.11

referred to as the "the principal regulations".

(2) The purpose of these regulations is to transpose, in part,

Article 6(27)(c) of Directive 2010/78/EU of the European Parliament

and of the Council of 24 November 2010 amending Directives 98/26/

EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC,

2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC and 2009/65/

EC in respect of the powers of the European Supervisory Authority

(European Banking Authority), the European Supervisory Authority

(European Insurance and Occupational Pensions Authority) and the

European Supervisory Authority (European Securities and Markets

Authority).

In sub-regulation (2) of regulation 1 of the principal Amends

regulations, for the words "the Directive", and wherever they appear regulation

the principal

in the principal regulations, there shall be substituted the words "the regulations

general

MiFID Directive".

amendment.

Regulation 2 of the principal regulations shall be amended Amends

regulation 2 of

as follows

the principal

regulations.

(a)

immediately after the definition "competent

authority" there shall be added the following new definition

" "ESMA" means the European Securities and

Markets Authority established by Regulation (EU) No

1095/2010 of the European Parliament and of the Council

of 24 November 2010;";

(b)

the definition "the Directive" shall be deleted; and

(c)

immediately after the definition "Maltese regulated

market" there shall be added the following new definition

" "MiFID Directive" means Directive 2004/39/EC

of the European Parliament and of the Council of 21 April

2004 on markets in financial instruments amending

Council Directives 85/611/EEC and 93/6/EEC and

Directive 2000/12/EC of the European Parliament and of

the Council and repealing Council Directive 93/22/EEC, as

amended from time to time, and includes any

implementing measures that have been or may be issued

thereunder;".

In sub-regulation (2) of regulation 5 of the principal

regulations, for the words "The European Commission shall be

informed of such measures without delay.", there shall be substituted

the words "The Commission of the European Union and ESMA shall

be informed of such measures without delay. In addition, the

competent authority may refer the matter to ESMA.".

€0.09