The MFSA revises the Investment Services Rules applicable to MiFID Firms
The MFSA has recently revised Part B1 of the Investment Services Rules for Investment Services Providers applicable to MiFID Firms (the ‘Rules’).
The revision of the Rules includes new definitions, and an enhancement in the clarity of existing definitions. The MFSA has also introduced the requirement for investment firms to undertake ongoing due diligence checks, as well as assessments on the suitability of its management and key function holders. Investment firms shall also be required to report the adherence to such requirements by way of an annual confirmation to the MFSA. The introduction of such requirements follows the publication of the ‘Guidelines on the Assessment of the Suitability of Members of the Management Body and Key Function Holders’ by ESMA and the EBA in March 2018.
DF Advocates are actively involved in assisting MiFID firms and other investment service providers. For further enquiries, please contact us on firstname.lastname@example.org or telephone +356 2131 3930 / +356 2134 0401.