Regulatory Alerts2025-03-14
Added · Updated
Circular to Credit Institutions and Investment Firms on Amendments to various Subsidiary Legislation, Banking Rule BR/15 and Investment Firms’ Rules
The document amends Subsidiary Legislation S.L. 371.22, S.L. 370.46, and S.L. 371.05 to correct transposition oversights of the Capital Requirements Directive, specifically by removing redundant points from S.L. 371.22, adjusting cross-references, and ensuring S.L. 370.46 applies to investment firms. Banking Rule BR/15 is updated to correct specific cross-references in paragraphs 28, 31(b), 51, 54, 55, and 59. Part BI of the Investment Firms’ Rules is amended by removing the phrase “which form part of a Consolidated Group” from Rule R2-3.2.59, requiring all Class 1 and Class 1 Licence Holders to publicly disclose annually on a consolidated basis by country. These revised Legislation and Rules come into force with immediate effect.
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