Financial Markets (Fees) (Amendment No. 2) Regulations, 2025

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 21,564, 26 ta’ Diċembru, 2025

Taqsima B

L.N. 301 of 2025

FINANCIAL MARKETS ACT

(CAP. 345)

INVESTMENT SERVICES ACT

(CAP. 370)

Financial Markets (Fees) (Amendment No. 2) Regulations, 2025

IN EXERCISE of the powers conferred by articles 3, 30 and 31H

of the Financial Markets Act and 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 Financial Citation and

Markets (Fees) (Amendment No. 2) Regulations, 2025 and these commencement.

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

Markets (Fees) Regulations, hereinafter referred to as the "principal

regulations".

(2) Regulations 2, 5 and 7 shall come into force on the 1st

January 2026.

In regulation 2 of the principal regulations in the definition Amends

"Prospectus Regulation" the words "may be thereunder." shall be regulation

the principal

substituted by the words "may be thereunder;" and immediately regulations.

thereafter there shall be added the following new definition

" "sponsor" means a person providing advice, guidance and

expertise to issuers applying, or intending to apply, for

admissibility to listing of securities on a local regulated market

under the Act, and as may be prescribed.".

Regulation 7 of the principal regulations shall be amended Amends

regulation 7 of

as follows

the principal

regulations.

(a) in sub-regulation

(1)

thereof the words

"Notwithstanding the provisions of these regulations" shall be

substituted by the words "Notwithstanding the provisions of

regulations 3 to 6";

(b) in sub-regulation (4) thereof the words

"Notwithstanding the provisions of these regulations," shall be

substituted by the words "Notwithstanding the provisions of

regulations 3 to 6";

Immediately after regulation 8 of the principal regulations,

there shall be added the following new regulation

(1) A credit institution that intends to

issue a covered bond programme shall, upon

submission of an application to the competent authority

for approval in accordance with article 31D of the Act,

pay to the competent authority an application fee as

established in the Fourth Schedule.

(2) A credit institution shall, subject to the

provisions of sub-regulation (3), pay to the competent

authority an annual supervisory fee as established in

the Fourth Schedule with respect to every covered

bond programme which was approved by the

competent authority.

(3) The first annual supervisory fee due in

accordance with sub-regulation (2) shall be paid to the

competent authority on the date when the covered

bond programme is approved by the competent

authority and annually thereafter on the date when

such approval was granted.

(4) The first annual supervisory fee due in

accordance with sub-regulation (3) shall be paid to the

competent authority on the date when a sponsor is

registered under the Act, and every annual supervisory

fee following the first annual supervisory fee which is

due in accordance with sub-regulation (2) shall be paid

to the competent authority on the 31st st January of each

calendar year.".

5. Immediately after regulation 8A of the principal

regulations, as added, there shall be added the following new

(1) A person that intends to act as a

sponsor in Malta, or hold itself out to act as such shall,

upon submission of an application to the competent

authority for registration in accordance with article 12B

of the Act, pay to the competent authority an

application fee as established in the Fifth Schedule.

(2) A person registered as a sponsor in

accordance with article 12B of the Act shall, subject to

the provisions of sub-regulation (4), pay to the

competent authority an annual supervisory fee which

shall be the aggregate of the following

(a) the fixed annual supervisory fee

established in the Fifth Schedule; and

(b) where applicable, the variable annual

supervisory fee for every application for the

admissibility to listing of securities on a local

regulated market submitted to the competent

authority, in relation to which a sponsor was

appointed to provide his services as such during

the preceding calendar year

Provided that the variable annual

supervisory fee shall not exceed the maximum

annual supervisory fee established in the Fifth

Schedule.

(3) Notwithstanding the provisions of sub-

regulation (2), the first annual supervisory fee due to

the competent authority shall be the fixed annual

supervisory fee established in the Fifth Schedule

prorated according to the period remaining between the

date when the sponsor was registered under the Act and

the date when the next annual supervisory fee is due in

accordance with sub-regulation (4).

6. Immediately after the Third Schedule to the principal Addition of a

new Schedule to

regulations there shall be added the following new Schedule

the principal

regulations.

"Fourth Schedule

(regulation 8A)

Covered Bond Programme Fees

Fee (€)

Application fee

15,000

Annual supervisory fee

25,000.

7. Immediately after the Fourth Schedule to the principal Addition of a

regulations, as added, there shall be added the following new new

the principal

regulations.

Fifth Schedule

(regulation 8B)

Sponsor Fees

Fee (€)

Application fee

2,000

Fixed annual supervisory fee

Variable annual supervisory fee

1,000

Maximum fee

10,000".

€0.18