Regulations, 2023

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 21,032, 4 ta’ April, 2023 B 711

L.N. 71 of 2023

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (Supervisory Review) (Amendment)

Regulations, 2023

IN EXERCISE of the powers conferred by article 12 of the

Investment Services 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 Investment Citation and

Services Act (Supervisory Review) (Amendment) Regulations, 2023, scope.

and these regulations shall be read and construed as one with the

Investment Services Act (Supervisory Review) Regulations, S.L. 370.15.

hereinafter referred to as the "principal regulations".

(2) The purpose of these regulations is to transpose Article 110

of Directive 2013/36/EU of the European Parliament and of the

Council of 26 June 2013 on access to the activity of credit institutions

and the prudential supervision of credit institutions ("the CRD") as

amended by Article 62 of Directive (EU) 2019/2034 of the European

Parliament and of the Council of 27 November 2019 on the prudential

supervision of investment firms and amending Directives 2002/87/EC,

2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU,

and Article 104b(4) of the CRD as amended by Article 1 of Directive

(EU) 2019/878 of the European Parliament and of the Council of 20

May 2019 as regards exempted entities, financial holding companies,

mixed financial holding companies, remuneration, supervisory

measures and powers and capital conservation measures, and they

shall be interpreted and applied accordingly.

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

regulations, in the definition "CRD" for the words, "the prudential regulation

the principal

supervision of credit institutions and investment firms," there shall be regulations.

substituted the words, "the prudential supervision of credit

institutions,".

Sub-regulation (2) of regulation 20 of the principal Amends

regulation 20 of

regulations shall be deleted.

the principal

regulations.

Paragraph 11 of Schedule III of the principal regulations Amends

Schedule III to

shall be substituted by the following new paragraph

the principal

regulations.

"(11) The competent authority’s guidance on additional

own funds pursuant to paragraph 10 of this Schedule shall be

institution-specific. The guidance may cover risks addressed by

the additional own funds requirement imposed pursuant to

paragraph (1)(a) of this Schedule only to the extent that it covers

aspects of those risks that are not already covered under that

requirement.".

€0.09