Powers) (Amendment) Regulations, 2024

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

L.N. 251 of 2024

INVESTMENT SERVICES ACT

(CAP. 370)

CRD (Administrative Penalties, Measures and Investigatory

Powers) (Amendment) Regulations, 2024

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 CRD Citation, scope

(Administrative Penalties, Measures and Investigatory Powers) and

commencement.

(Amendment) Regulations, 2024, and these regulations shall be read

and construed as one with the CRD (Administrative Penalties, S.L. 370.25.

Measures and Investigatory Powers) Regulations, hereinafter referred

to as the "principal regulations".

(2) The scope of these regulations is to transpose Article 4(1)

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.

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

regulations, immediately after the definition "CRR", 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

binding legal instruments, guidelines and other measures that

have been or may be issued thereunder;".

Sub-paragraph (vi) of paragraph (a) of regulation 5 of the Amends

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

the principal

regulations.

paragraph

"(vi) third parties to whom the entities referred to in sub-

paragraphs (i) to (iv) have outsourced functions or activities,

including ICT third-party service providers referred to in

Chapter V of the DORA Regulation;".

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