MFSA Issues Updates To The Conduct Of Business Rulebook – Finance and Banking


MFSA Issues Updates To The Conduct Of Business Rulebook

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On the 2nd April 2019, the Malta Financial
Services Authority issued an updated version of the Conduct of
Business Rulebook. The changes mainly relate to:

  1. The PRIIPs Regulation – A new section has been introduced
    which incorporates the rules on key information emanating from the
    PRIIPs Regulation, namely rules applicable to Regulated Persons
    when they manufacture and/or offer packaged retail and
    insurance-based investment products to Retail Clients.

  2. Requirements for Cross-Selling Practices Applicable to the
    Securities Sector – New requirements have been included which
    reflect the requirements of the ESMA Guidelines on cross-selling
    practices. The requirements are applicable to investment firms,
    credit institutions upon the provision of investment services and
    UCITS management companies when providing services in terms of
    Article 6(3) of the UCITS Directive.

  3. Definitions – The Definitions/Glossary section has been
    updated in line with MiFID II, including amendments or additions of
    the definitions of ‘distributor’, ‘manufacturer’,
    ‘cross-selling practice’, ‘bundled package’,
    ‘tied package’ and ‘component product’.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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