Circular to Credit Institutions and Investment Firms on Amendments to various Subsidiary Legislation, Banking Rule BR/15 and Investment Firms’ Rules

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Circular to Credit Institutions and Investment Firms on Amendments to various Subsidiary Legislation, Banking Rule BR/15 and Investment Firms’ Rules The Authority is hereby informing the industry of the publication of the following amendments to Subsidiary Legislation and Rules, thereby correcting a few transposition oversights of the Capital Requirements Directive 1 : Amendments to Subsidiary Legislation:

1. L.N. 44 of 2025 amending the Supervisory Consolidation (Credit Institutions) Regulations (S.L. 371.22);
2. L.N. 45 of 2025 amending the Investment Services Act (Supervisory Consolidation) (Capital Requirements Directive) Regulations (S.L. 370.46);
3. L.N. 46 of 2025 amending the Administrative Penalties, Measures and Investigatory Powers Regulations (S.L. 371.05); Amendments to Rules:
4. Banking Rules BR/15 of Capital Buffers of Credit Institutions
5. Part BI: Rules applicable to Investment Services Licence Holders which qualify as MiFID Firms A. Amendments to Subsidiary Legislation: Sub-regulation (1) of regulation 3 of S.L. 371.22 has been amended to remove points (aa), (da), and part of the wording of point (e), as these are being included in sub-regulation (1) of regulation 3 of S.L. 370.46 given that such regulations pertain to investment firms. Additionally, regulation 7(3) of S.L. 371.22 has been amended to correct the cross￾referencing to other regulations. Other amendments carried out to S.L. 370.46 cater for incorrect cross-referencing in regulation 3(2) while sub-regulation (9) of regulation 8 has been amended to cater specifically for investment firms instead of credit institutions given the scope of the subsidiary legislation. 1 Directive 2013/36/EU as amended by Directive (EU) 2019/878 14 March 2025

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Meanwhile, S.L. 371.05 has been amended to correct the cross-referencing in regulation 8(2). B. Amendments to Rules:

1. Amendments to BR/15 are being carried out to the following paragraphs to correct specific cross-references: • Paragraph 28 to include reference to article 131(5a) of the CRD; • Paragraph 31(b) to change the reference from paragraph 30 to paragraph 28; • Paragraph 51 to change reference from paragraph 51 to paragraph 52; • Paragraph 54 in points (a), (b), and (c) to specifically refer to point (a) of regulation 9(1) of the Banking Act (Supervisory Review) Regulations; • Paragraphs 55 and 59 to change the references from paragraph 48 to paragraph 49, in both paragraphs.
2. Amendments to Part BI: Rules applicable to Investment Services Licence Holders which qualify as MiFID Firms The words “which form part of a Consolidated Group” have been removed from Rule R2- 3.2.59. Therefore, all Class 1 and Class 1 Licence Holders have to publicly disclose annually, on a consolidated basis, by country where they have an establishment what is specified under this Rule. C. Conclusion The revised Legislation and Rules will come into force with immediate effect. Any queries in relation to the above should be directed to Banking Supervision on bsupolicy@mfsa.mt.