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Regulatory Updates

November 2021

Contact the PwC Malta Regulatory Team for further information in relation to any of the updates or if you wish to discuss how these may impact your business.

Welcome

Welcome to PwC Malta’s Regulatory Updates - giving a recap for this month of the main legislative updates and key regulator activity.

Anti-Money Laundering

Local update

09/11/2021 - Use of Cash (Restriction) (Amendment) Regulations, 2021
Link to the document can be found here.

 

International updates

10/11/2021 - The Application of Group-Wide Programmes by Non-Financial Business and Professions
Link to the document can be found here.

24/11/2021 - FATF Annual Report 2020 - 2021
Link to the report can be found here.

30/11/2021 - Consolidated assessment ratings
Link to the report can be found here.

Asset Management

Local updates

04/11/2021 - ESAs Publication of Call for Advice with respect to the Review of the PRIIPS (Packaged Retail and Insurance Based investment Products) Regulation
Circular can be found here.

08/11/2021 - ESMA Public Statement – European Common Enforcement Priorities for 2021 Annual Financial Reports
Circular can be found here.

10/11/2021 - Circular on the Market Abuse Regulation (EU) 596/2014 (‘MAR’ or the ‘Regulation’) – Notification of Managers’ Transactions Made During the Offer Period
Circular can be found here.

12/11/2021 - Circular on Regulation (EU) 2020/1503 – the European Crowdfunding Service Providers Regulation (‘ECSPR’ or the ‘Regulation’)
Circular can be found here.

23/11/2021 - Circular on Updates to the Q&As on Regulation (EU) No 648/2012 - the European Market Infrastructure Regulation (‘EMIR’ or the ‘Regulation’)
Circular can be found here.

23/11/2021 - Circular to the Industry - Discussion Paper published by ESMA in relation to the European Market Infrastructure Regulation (‘EMIR’ or the ‘Regulation’)
Circular can be found here.

23/11/2021 - Circular on Regulation (EU) 2016/1011 - the Benchmarks Regulation (‘BMR’)
Circular can be found here.

23/11/2021 - Circular on Regulation (EU) 2021/23 – the Central Counterparties (‘CCPs’) Recovery and Resolution Regulation (‘CCP RRR’)
Circular can be found here.

23/11/2021 - Circular on Markets in Financial Instruments Directive (‘MiFID II’) and Markets in Financial Instruments Regulation (‘MiFIR’)
Circular can be found here.

24/11/2021 - Circular on Regulation (EU) 909/2014 – the Central Securities Depositories Regulation (‘CSDR’)
Circular can be found here.

24/11/2021 - Circular on Markets in Financial Instruments Directive (‘MiFID II’) and Markets in Financial Instruments Regulation (‘MiFIR’)
Circular can be found here.

24/11/2021 - Circular on Markets in Financial Instruments Directive (‘MiFID II’) and Markets in Financial Instruments Regulation (‘MiFIR’)
Circular can be found here.

24/11/2021 - Circular on Regulation (EU) 2017/2402 – the Securitisation Regulation
Circular can be found here.

24/11/2021 - Circular on Regulation (EU) 2016/1011 – the Benchmarks Regulation (‘BMR’)
Circular can be found here.
 

International updates

04/11/2021 - ESMA Highlights its Contribution to a More Sustainable Financial System
Link to the release can be found here.

18/11/2021 - ESMA and EBA consult on Framework for the Supervisory Review and Evaluation Process of Investment Firms
Link to the release can be found here.

18/11/2021 - ESMA Publishes its Preliminary Report on the EU Carbon Market
Link to the release can be found here.

19/11/2021 - ESMA updates it’s Q&A’s on Benchmarks Regulation, Central Securities Depositories Regulation, EMIR Implementation, European crowdfunding service providers for business Regulation, MiFID II and MiFIR investor protection topics and Securitisation Regulation
Link to the release can be found here.

Banking

Local update

12/11/2021 - Credit Risk Management in Malta’s Banks
Circular can be found here.

International updates

04/11/2021 - EBA consults on draft technical standards on Initial Margin Model Validation under EMIR
Link to the release can be found here.

22/11/2021 - EBA publishes its final revised Guidelines on internal governance for investment firms under the Investment Firms Directive
Link to the release can be found here.

Consultation Documents

Local update

19/11/2021 - Consultation Document on the Amendments to Chapter 2 in Part A of the Insurance Rules, Chapter 8 in Part B of the Insurance Rules, Chapter 7 and Chapter 8 in Part B of the Insurance Distribution Rules
Link to the release can be found here.

Conduct of Business

Local updates

04/11/2021 - ESAs Publication of Call for Advice with Respect to the Review of the PRIIPS (Packaged Retail and Insurance-Based Investment Products) Regulation
Circular can be found here.

16/11/2021 - Conduct of Business Rulebook Revisions
Circular can be found here.

Contact us

Fabio Axisa

Fabio Axisa

Assurance Partner, PwC Malta

Tel: +356 2564 7191

Mark Lautier

Mark Lautier

Partner, PwC Malta

Tel: +356 2564 6744

Chris Mifsud Bonnici

Chris Mifsud Bonnici

Senior Manager, Tax, PwC Malta

Tel: +356 2564 6935

Lee Ann Agius

Lee Ann Agius

Manager, Tax, PwC Malta

Tel: +356 2564 4027

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