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:
- 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.
- 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.
- 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.