MALTA FINANCIAL SERVICES AUTHORITY ACT (INDICES USED AS BENCHMARKS IN FINANCIAL INSTRUMENTS AND FINANCIAL CONTRACTS OR

(INDICES USED AS BENCHMARKS IN FINANCIAL

INSTRUMENTS AND FINANCIAL CONTRACTS OR TO

MEASURE THE PERFORMANCE OF INVESTMENT

FUNDS) (FEES) REGULATIONS

SUBSIDIARY LEGISLATION 330.21

MALTA FINANCIAL SERVICES AUTHORITY ACT

(INDICES USED AS BENCHMARKS IN FINANCIAL

INSTRUMENTS AND FINANCIAL CONTRACTS OR

TO MEASURE THE PERFORMANCE OF

INVESTMENT FUNDS) (FEES) REGULATIONS

1st January, 2026

LEGAL NOTICE 304 of 2025.

The title of these regulations is the Malta Financial

Services Authority Act (Indices used as benchmarks in financial

instruments and financial contracts or to measure the performance of

investment funds) (Fees) Regulations.

(regulation 3)

Application Fee

Fee (€)

Application for authorisation

5,000

Application for registration

1,500

In these regulations, unless the context otherwise

requires

"Act" means the Malta Financial Services Authority Act;

"administrator" means a natural or legal person that has

control over the provision of a benchmark;

"applicant" means a natural or legal person that applies to

the Authority for authorisation or registration in accordance

with Article 34 of the Benchmarks Regulation;

"authorised person" means a person that is authorised by

the Authority in accordance with Article 34 of the Benchmarks

Regulation;

"Authority" means the Malta Financial

Services

Authority established by article 3 of the Act;

"benchmark" means any index by reference to which the

amount payable under a financial instrument or a financial

contract, or the value of a financial instrument is determined, or

an index that is used to measure the performance of an

investment fund with the purpose of tracking the return of such

index, or of defining the asset allocation of a portfolio, or of

computing the performance fees;

"Benchmarks Regulation" means Regulation (EU) 2016/

1011 of the European Parliament and of the Council of 8 June

2016 on indices used as benchmarks in financial instruments

and financial contracts or to measure the performance of

(INDICES USED AS BENCHMARKS IN FINANCIAL

INSTRUMENTS AND FINANCIAL CONTRACTS OR TO

MEASURE THE PERFORMANCE OF INVESTMENT

FUNDS) (FEES) REGULATIONS

investment funds and amending Directives 2008/48/EC and

2014/17/EU and Regulation (EU) No 596/2014, as may be

amended from time to time and includes any implementing

measures, implementing technical standards, regulatory

technical standards, guidelines and similar measures that have

been, or may be issued thereunder;

"net revenue" means the gross revenue indicated in the

annual audited financial statements for the preceding year

which is derived from the services which the administrator is

authorised or registered by the Authority to provide, less any

commissions which have been paid, or are to be paid to third

parties in connection with the provision of such services;

"registered person" means a person that is registered by

the Authority in accordance with Article 34 of the Benchmarks

Regulation;

(2)

Words and expressions used in these regulations which

are also used in the Benchmarks Regulation, but which are not herein

defined, shall have the same meaning as in the Benchmarks

Regulation.

(regulation 4)

Annual Supervisory Fee

Fee (€)

Authorised person

Minimum fee

4,500

First €100,000 in net revenue or part thereof

4,500

Every additional €100,000 in net revenue or part

thereof

Registered person

Minimum fee

1,000

First €100,000 in net revenue or part thereof

1,000

Every additional €100,000 in net revenue or part

thereof

(1)

An applicant shall, upon submission of an

application to the Authority for authorisation or registration, as

applicable, in accordance with Article 34 of the Benchmarks

Regulation, pay to the Authority an application fee as established in

the First Schedule with respect to such application.

(2)

Where a registered person subsequently applies to the

Authority for authorisation in accordance with Article 34 of the

Benchmarks Regulation, the application fee due by such person in

accordance with this regulation shall be reduced by twenty five per

cent (25%).

(3)

Where an authorised person subsequently applies to the

Authority for registration in accordance with Article 34 of the

Benchmarks Regulation, the application fee due by such person in

accordance with this regulation shall be reduced by twenty five per

cent (25%).

(1)

An authorised person shall, subject to the

provisions of sub-regulation (4), pay the following annual supervisory

fee

(a)

the fee established in the Second Schedule for the

first one hundred thousand euro (€100,000) in net revenue or

(INDICES USED AS BENCHMARKS IN FINANCIAL

INSTRUMENTS AND FINANCIAL CONTRACTS OR TO

MEASURE THE PERFORMANCE OF INVESTMENT

FUNDS) (FEES) REGULATIONS

part thereof; and

(b)

where applicable, the fee established in the

Second Schedule for every additional one hundred thousand

euro (€100,000) in net revenue or part thereof.

(2)

A registered person shall, subject to the provisions of

sub-regulation (4), pay the following annual supervisory fee

(a)

the fee established in the Second Schedule for the

first one hundred thousand euro (€100,000) in net revenue or

part thereof; and

(b)

where applicable, the fee established in the

Second Schedule for every additional one hundred thousand

euro (€100,000) in net revenue or part thereof.

(3)

Notwithstanding the provisions of sub-regulations (1)

and (2), the first annual supervisory fee due to the Authority by a

person as referred to in any of the said sub-regulations shall be the

aggregate of the following

(a)

the minimum annual supervisory fee established

in the Second Schedule, as applicable, prorated according to the

period remaining between the date when such person is granted

authorisation or registration by the Authority under Article 34

of the Benchmarks Regulation and the end of the calendar year

in which such authorisation or registration was granted; and

(b)

the minimum annual supervisory fee established

in the Second Schedule, as applicable, prorated according to the

period between the start of the following calendar year and the

date when the next supervisory fee is due in accordance with

sub-regulation (4).

(4)

The first annual supervisory fee due in accordance with

sub-regulation (3) shall be paid to the Authority on the date when a

person is granted authorisation or registration by the Authority in

accordance with Article 34 of the Benchmarks Regulation, and every

annual supervisory fee following the first annual supervisory fee

which is due by such person in accordance with sub-regulation (1) or

(2), as applicable, shall be paid to the Authority one (1) month from

the date of submission of the annual audited financial statements as

established by law.

(1)

The fees established and due in terms of these

regulations shall not be refundable.

(INDICES USED AS BENCHMARKS IN FINANCIAL

INSTRUMENTS AND FINANCIAL CONTRACTS OR TO

MEASURE THE PERFORMANCE OF INVESTMENT

FUNDS) (FEES) REGULATIONS

(2)

Without prejudice to regulation 4(3), the fees established

and due in terms of these regulations shall not be prorated.

(INDICES USED AS BENCHMARKS IN FINANCIAL

INSTRUMENTS AND FINANCIAL CONTRACTS OR TO

MEASURE THE PERFORMANCE OF INVESTMENT

FUNDS) (FEES) REGULATIONS