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ARTICLE · 10 SEPTEMBER 2021

Conduct Of Business Rulebook Revisions

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On 2nd September 2021, the MFSA issued a Circular on amendments made to the Conduct of Business Rulebook (the ‘Rulebook') applicable to Regulated Persons.

MaltaFinance and Banking
Simon Mangion
Simon Mangion
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On 2nd September 2021, the MFSA issued a Circular on amendments made to the Conduct of Business Rulebook (the 'Rulebook') applicable to Regulated Persons.

By way of summary, the revisions made the Rulebook consist of the following:

  1. Section 2 of the Rulebook now includes a new Part D which incorporates article 4 of Regulation 2019/1156 on the Cross-Border Distribution of Funds which is directly applicable to licence holders. According to this newly added section, a UCITS Management Company or the UCITS (where the UCITS has not designated a UCITS Management Company) must ensure that it makes adequate arrangements for the marketing units of UCITS, including adequate distribution arrangements. Furthermore, all marketing communications addressed to investors (or potential investors) must clearly identifiable as such and describe the risks and rewards of purchasing units of a UCITS in a clear manner, and all information must be fair clear and not misleading.

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