Investment Services Act (Supervisory Consolidation)

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 21,395, 21 ta’ Frar, 2025 B 333

L.N. 45 of 2025

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (Supervisory Consolidation)

(Capital Requirements Directive) (Amendment) Regulations, 2025

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 Consolidation) (Capital Requirements scope.

Directive) (Amendment) Regulations, 2025 and these regulations shall

be read and construed as one with the Investment Services Act S.L. 370.46.

(Supervisory Consolidation) (Capital Requirements Directive)

Regulations, hereinafter referred to as the "principal regulations".

(2) The scope of these regulations is to further transpose the

provisions of Articles 1(37) and 1(38) of Directive (EU) 2019/878 of

the European Parliament and of the Council of 20 May 2019 amending

Directive 2013/36/EU 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.

Regulation 3 of the principal regulations shall be amended Amends

regulation 3 of

as follows

the principal

regulations.

(a)

in sub-regulation (1) thereof

(i) immediately after paragraph (a) thereof there

shall be added the following new paragraph

"(aa) where the parent undertaking is a parent

investment firm established in Malta or in another

Member State or an EU parent investment firm and

none of its subsidiaries is a credit institution, if the

competent authority supervises that parent investment

firm or that EU parent investment firm on an

individual basis;";

(ii)

paragraph (c) thereof shall be substituted by the

following new paragraph

"(c) where the parent of an investment firm is a

parent financial holding company established in

Malta or in another Member State, a parent mixed

financial holding company in Malta or in another

Member State, an EU parent financial holding

company or an EU parent mixed financial holding

company, where the competent authority supervises

the investment firm on an individual basis.";

(iii) immediately after sub-paragraph (ii) of

paragraph (d) thereof there shall be added the following

new sub-paragraph

"(iii) the competent authority supervises the

investment firm with the largest balance sheet total,

where the group does not include any credit

institution;";

(b) in sub-regulation 2 thereof the words "from sub-

regulation (1)(b), (d)(ii) and (e)," shall be substituted by the

words "from sub-regulation (1)(b), (d)(ii), d(iii) and (e),".

In sub-regulation (9) of regulation 8 of the principal

regulations the words "or an EU parent mixed financial holding

company which are credit institutions," shall be substituted by the

words "or an EU parent mixed financial holding company which are

investment firms,".

€0.09