Investment Services Act (Supervisory Review)

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 21,323, 4 ta’ Ottubru, 2024 B 1603

L.N. 252 of 2024

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (Supervisory Review)

(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 Investment Citation, scope

Services Act (Supervisory Review) (Amendment) Regulations, 2024, and

commencement.

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 scope of these regulations is to transpose Article 4(4)

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-regulation (1) of regulation 11 of the principal Amends

regulation 11 of

regulations shall be amended as follows

the principal

regulations.

(a)

in paragraph (a) thereof, the words "or might be

exposed; and" shall be substituted by the words "or might be

exposed;";

(b) in paragraph (b) thereof, the words "of an investment

firm’s activities." shall be substituted by the words "of an

investment firm’s activities; and"; and

(c) immediately after paragraph (b) thereof, as

amended, there shall be added the following new paragraph

"(c) risks revealed by digital operational resilience

testing in accordance with Chapter IV of the DORA

Regulation.".

€0.09