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ARTICLE · 30 MAY 2023

The New Notified PIFs Framework: MFSA Publishes Consultation Document On Regulatory Changes

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On 22 May 2023, the Malta Financial Services Authority (the "MFSA") published a Consultation Document on the proposed legislative amendments related to the promulgation of the new framework...

MaltaFinance and Banking
Mark Caruana Scicluna
Mark Caruana Scicluna
Yasmine Ellul
Yasmine Ellul
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On 22 May 2023, the Malta Financial Services Authority (the "MFSA") published a Consultation Document on the proposed legislative amendments related to the promulgation of the new framework for Notified Professional Investor Funds ("NPIFs"). This follows and is complementary to the previous Consultation Document, which was issued by the MFSA on 22 December 2023, and which sought input from stakeholders on the main features of the proposed framework for NPIFs and the draft rulebook to regulate such framework.

The NPIFs Framework Proposal

The NPIFs framework proposal aims to introduce a new fund structure that is similar to the existing and largely successful Notified Alternative Investment Fund ("NAIF") framework. Similarly to NAIFs, NPIFs will be subject to a notification process and not a licensing process. This will mean that NPIFs will have the possibility of obtaining their notified status with the MFSA in as little as 10 working days. The new framework will

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