Since the end of the transition period applicable to
Alternative Investment Fund Managers (AIFMs) that were undertaking
activities before the coming into force of the AIFM Directive on 22
July 2013, a clearer picture is emerging on the preparedness of
operators to conduct activities under AIFMD – a Directive
which has attracted mixed reactions from various sectors, with some
advocating the added advantages of increased investor protection
and the passporting opportunities whilst others are highlighting
the increased compliance costs, uncertainty and complexities that
it has brought about.
Whilst AIFMD has posed various challenges to industry operators
and regulators alike, Malta was at the forefront of implementation,
ensuring a timely transposition. This transposition entailed
amendments to the Investment Services Act, 1994 with the primary
law being supplemented by four legal notices and changes to the
MFSA's Rulebooks.
