Requirements) (Amendment No. 2) Regulations, 2024

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 21,323, 4 ta’ Ottubru, 2024

L.N. 249 of 2024

FINANCIAL MARKETS ACT

(CAP. 345)

Regulated Markets and Market Operators (Authorisation

Requirements) (Amendment No. 2) Regulations, 2024

IN EXERCISE of the powers conferred by article 49 of the

Financial Markets 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 Regulated Markets Citation, scope

and Market Operators (Authorisation Requirements) (Amendment No. and

commencement.

2) Regulations, 2024 and these regulations shall be read and construed

as one with the Regulated Markets and Market Operators S.L. 345.04.

(Authorisation Requirements) Regulations, hereinafter referred to as

the "principal regulations".

(2) The scope of these regulations is to transpose Articles

6(3)(a) and 6(3)(b) of Directive (EU) 2022/2556 of the European

Parliament and of the Council of 14 December 2022 amending

Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, 2013/36/EU,

2014/59/EU, 2014/65/EU, (EU) 2015/2366 and (EU) 2016/2341 as

regards digital operational resilience for the financial sector.

(3) These regulations shall come into force on the 17th

January, 2025.

Sub-regulation (2) of regulation 1 of the principal Amends

regulations shall be substituted by the following new sub-regulation: regulation

the principal

regulations.

"(2) The scope of these regulations is to transpose Article

4(1) paragraph (37), Article 45(1) to (3), sub-paragraphs (a) to

(d) of Article 45(4), Article 45(5) to (8), Article 47, Article 53(1)

and (2) and Article 54(1) to (3) of MiFID, as herein defined and

shall be interpreted and applied accordingly.".

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

regulations, immediately after the definition "applicant" there shall be regulation

the principal

added the following new definition

regulations.

" "DORA Regulation" means Regulation (EU) 2022/2554

of the European Parliament and of the Council of 14 December

2022 on digital operational resilience for the financial sector

and amending Regulations (EC) No 1060/2009, (EU) No 648/

2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/

1011, as may be amended from time to time, and includes any

implementing measures that have been or may be issued

thereunder;".

Paragraph (2) of item 3 of the Schedule to the principal

regulations shall be amended as follows

(a) in sub-paragraph (b) thereof, immediately after the

words "it is exposed" there shall be added the words ", including

to manage ICT risk in accordance with Chapter II of the DORA

Regulation;"; and

(b)

sub-paragraph (d) thereof shall be deleted.

€0.09