Regulatory Alerts2024-09-05
Added · Updated
Circular on the Publication of Frequently Asked Questions on the Notified PIF Framework and Related Updates to the NPIF Rulebook
The Malta Financial Services Authority published a Frequently Asked Questions document on the Notified Professional Investor Fund framework and amended the NPIF Rules to reflect positions outlined in that guidance. Rule 11.05 was amended to clarify eligibility criteria for appointment as a Notified PIF Due Diligence Service Provider and its format. Rule 11.06 was amended to outline the process for Due Diligence Service Providers to be included in the MFSA Financial Services Register before submitting a Notification Form for a prospective fund. Rule 5.04 was amended to require Due Diligence Service Providers to submit a declaration confirming fitness and properness assessments when changes occur to service providers or officials of the fund.
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