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ARTICLE · 31 MARCH 2015

Malta - Streamlining Its PIF And AIF Regimes

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On the 10th of March 2015 the MFSA published a consultation paper on the regulatory approach applicable to collective investment schemes licenced as professional investor funds and alternative investment funds.

MaltaFinance and Banking
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On the 10th of March 2015 the Malta Financial Services Authority ("MFSA") published a consultation paper on the regulatory approach applicable to collective investment schemes licenced as professional investor funds ("PIFs") and alternative investment funds ("AIFs") in terms of the Investment Services Act.

During the transposition of the AIFMD into Maltese law, the MFSA made a conscious decision to retain the PIF regime. This was made possible by the fact that the AIFMD is not a product oriented Directive and thus the obligations deriving from the said Directive are incumbent primarily on the AIFM rather than on the fund itself.

Therefore, currently, a PIF may be managed by:

  • non-EU AIFMs; and

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