Regulations, 2022

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 20,967, 29 ta’ Novembru, 202 2

L.N. 312 of 2022

MALTA FINANCIAL SERVICES AUTHORITY ACT

(CAP. 330)

Malta Financial Services Authority Act (Indices used as

benchmarks in financial instruments and financial contracts or to

measure the performance of investment funds) (Amendment)

Regulations, 2022

IN EXERCISE of the powers conferred by article 20E of the

Malta Financial Services Authority Act, the Minister responsible for

the regulation of financial services, acting on the advice of the Malta

Financial Services Authority, has made the following regulations

(1) The title of these regulations is the Malta Financial Citation and

Services Authority Act (Indices used as benchmarks in financial scope.

instruments and financial contracts or to measure the performance of

investment funds) (Amendment) Regulations, 2022 and these

regulations shall be read and construed as one with the Malta Financial S.L. 330.10.

Services Authority Act (Indices used as benchmarks in financial

instruments and financial contracts or to measure the performance of

investment funds) Regulations, hereinafter referred to as the "principal

regulations".

(2) The purpose of these regulations is to implement the

relevant provisions of Regulation (EU) 2019/2089 of the European

Parliament and of the Council of 27 November 2019 amending

Regulation (EU) 2016/1011 as regards EU Climate Transition

Benchmarks, EU Paris-aligned Benchmarks and sustainability-related

disclosures for benchmarks and Regulation (EU) 2021/168 of the

European Parliament and of the Council of 10 February 2021

amending Regulation (EU) 2016/1011 as regards the exemption of

certain third-country spot foreign exchange benchmarks and the

designation of replacements for certain benchmarks in cessation, and

amending Regulation (EU) No 648/2012.

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

regulations, immediately after the definition "administrator" there regulation

the principal

shall be added the following new definition

regulations.

" "Authority" means the Malta Financial Services

Authority established by article 3 of the Act;".

In regulation 3 of the principal regulations, for the words

"the Malta Financial Services Authority established by the Act", there

shall be substituted the words "the Authority".

Immediately after regulation 3 of the principal regulations,

there shall be added the following new regulation

"3A. (1) The Authority shall be a designated

relevant national authority in Malta for the purposes of

carrying out the assessment in terms of point (a) of

paragraph 5 of Article 23b of the Benchmarks

Regulation.

(2) For the purposes of sub-regulation (1), the

Authority shall act jointly with the Central Bank of

Malta, designated as a relevant national authority in

terms of the Central Bank of Malta Act (Appointment

of Relevant Authority on Benchmarks) Regulations,

2022. (3) For the purposes of these regulations, the

Authority and the Central Bank of Malta shall

collaborate, cooperate and exchange information in

their possession and for such purpose the Authority and

the Central Bank of Malta may also enter into a

bilateral agreement or other forms of arrangement for

the better collaboration, cooperation and exchange of

information.".

The first paragraph of regulation 6 of the principal

regulations shall be amended as follows

(1) for the words, "to comply with the requirements"

thereof, there shall be substituted the words, "to comply with any

of the requirements"; and

(2) for the words, "16, 21," thereof, there shall be

substituted the words, "16, 19a, 19b, 19c, 21,".

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