Financial Markets (Fees) (Amendment) Regulations, 2025

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 21,413, 28 ta’ Marzu, 2025 B 583

L.N. 64 of 2025

FINANCIAL MARKETS ACT

(CAP. 345)

INVESTMENT SERVICES ACT

(CAP. 370)

Financial Markets (Fees) (Amendment) 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:-

The title of these regulations is the Financial Markets Citation.

(Fees) (Amendment) Regulations, 2025 and these regulations shall be

read and construed as one with the Financial Markets (Fees) S.L.

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

In regulation 2 of the principal regulations immediately Amends

after the definition "market capitalisation" there shall be added the regulation

the principal

following new definitions

regulations.

"multilateral trading facility" means a person that

"Cap. 370.

is licensed under the Investment Services Act to

provide, or hold himself out as providing, the

investment service set out in item 9 of the First

Schedule to the said Act;

"organised trading facility" means a person that is

licensed under the Investment Services Act to provide, or

hold himself out as providing, the investment service set

out in item 11 of the First Schedule to the said Act;".

Regulation 5 of the principal regulations shall be amended Amends

regulation 5 of

as follows

the principal

regulations.

(a) in sub-regulation (1) thereof the words "as applicable,

with respect to such application." shall be substituted by the

words "as applicable.";

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

accordance with article 5 of the Investment Services Act" shall

be deleted;

(c) in sub-regulation (3) thereof the words "granted a

licence in accordance with article 5 of the Investment Services

Act" shall be substituted by the words "licensed as such";

(d) in sub-regulation (4) thereof the words "granted a

licence under the Investment Services Act," shall be substituted

by the words "licensed as such".

Regulation 6 of the principal regulations shall be amended

(a) in sub-regulation (1) thereof the words "as applicable,

with respect to such application." shall be substituted by the

words "as applicable.";

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

accordance with article 5 of the Investment Services Act" shall

be deleted;

(c) in sub-regulation (3) thereof the words "granted a

licence in accordance with article 5 of the Investment Services

Act" shall be substituted by the words "licensed as such";

(d) in sub-regulation (4) thereof the words "granted a

licence under the Investment Services Act," shall be substituted

by the words "licensed as such".

Regulation 7 of the principal regulations shall be

substituted by the following new regulation

(1) Notwithstanding the provisions of these

"Fees in relation to

regulations, where more than one (1) application fee is

authorisations and,

due in accordance with the said regulations, such

application fees, other than the highest of the said

application fees, shall be reduced by twenty five percent

(25%).

(2) Notwithstanding sub-regulation (1) and

regulation 5(1) of the Investment Services Act (Fees)

Regulations, where an application fee is due in

accordance with regulation 5 and, or 6 in addition to any

one (1) or more application fees which are due in

accordance with regulations 3 and, or 4 and regulation 3

of the Investment Services Act (Fees) Regulations, such

application fees, other than the highest of the said

application fees, shall be reduced by twenty five percent

(25%).

(3) Notwithstanding the provisions of these

regulations and without prejudice to regulation 5(2) of

the Investment Services Act (Fees) Regulations, where a

person authorised under the Act and, or licensed under

the Investment Services Act intends to obtain an

additional authorisation and, or to provide an additional

investment service, the application fee due by such

person in accordance with these regulations with respect

to every such authorisation and, or investment service

shall be reduced by twenty five percent (25%)

Provided that, for the purposes of this sub-

regulation

(a) "authorisation" means an authorisation

as required by regulated markets and central

securities depositories in accordance with articles 4

and 24 of the Act respectively, as applicable;

(b) "authorised" means authorised as a

regulated market and, or a central securities

depositary in accordance with articles 4 and 25 of

the Act, as applicable;

(c) "investment service" means any of the

investment services referred to in items 9 and 11 of

the First Schedule to the Investment Services Act;

and

(d) "licensed" means licensed as an

investment service licence holder in accordance

with article 6 of the Investment Services Act, to

provide, or hold himself out as providing, the

investment service set out in item 9 and, or 11 of

the First Schedule to the Investment Services Act,

as applicable.

(4) Notwithstanding the provisions of these

regulations, where more than one (1) annual

supervisory fee is due in accordance with the said

regulations, such annual supervisory fees, other than

the highest of the said annual supervisory fees, shall be

reduced by twenty five percent (25%).

(5) Notwithstanding sub-regulation (4) and

regulation 5(4) of the Investment Services Act (Fees)

Regulations, where an annual supervisory fee is due in

accordance with regulations 5 and, or 6 in addition to any

one (1) or more annual supervisory fees which are due in

accordance with regulations 3 and, or 4 and regulation 4

of the Investment Services Act (Fees) Regulations, such

annual supervisory fees, other than the highest of the said

annual supervisory fees, shall be reduced by twenty five

percent (25%).".

6. In the Third Schedule to the principal regulations the words

"Article 18 of the Prospectus Regulation", wherever they occur, shall

be substituted by the words "Article 14 of the Prospectus Regulation".

€0.18