Regulatory Updates

February 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 updates

01/02/2021 - Guidance Document on Reporting through goAML
Link to the document can be found here.

03/02/2021 - Communication on Reporting: Monitoring Quality, Deletion of Draft Reports after 14 days, and Automatic Rejection Rules
Link to the release can be found here.

International updates

25/02/2021 - Jurisdictions under increased monitoring - February 2021
Link to the publication can be found here.

25/02/2021 - High Risk Jurisdictions subject to Call for Action - February 2021
Link to the publication can be found here.

Asset Management

Local updates

03/02/2021 - The Investment Firms Regulation and Directive - 2nd Briefing
Circular can be found here.

09/02/2021 - The implementation of the Sustainable Finance Disclosure Regulation (“SFDR”) - Process to be adopted with respect to the submission of updates to the pre-contractual document (prospectus) of locally based Collective Investment Schemes applicable as from 10 March 2021 (“SFDR Deadline”)
Circular can be found here.

17/02/2021 - Circular on Regulation No. 648/2012 - The European Markets Infrastructure Regulation (“EMIR”/ the “Regulation”) - Compliance Requirements
Circular can be found here.

International updates

01/02/2021 - ESMA finalises rules on standardised information to facilitate cross-border distribution of funds
Link to the release can be found here.

01/02/2021 - ESMA publishes report on proposed fees for benchmark administrators
Link to the release can be found here.

03/02/2021 - ESMA updates Q&As on MiFID II and MiFIR market structure topics
Link to the release can be found here.

24/02/2021 - ESMA updates Q&As on MiFID II and MiFIR market structure topics
Link to the release can be found here.

25/02/2021 - ESMA publishes first Q&As on crowdfunding
Link to the release can be found here.

Banking

Local update

03/02/2021 - Circular to Significant Credit Institutions on Developments in relation to the ECB IMAS Portal
Circular can be found here.

International update

16/02/2021 - EBA publishes final guidelines on the conditions for the alternative treatment of “tri-party repurchase agreements” for large exposure purposes
Link to the release can be found here.

Conduct of Business

Local updates

08/02/2021 - Cross Border Marketing of Investment Services Targeting Spanish Market on Freedom of Services Basis
Circular can be found here.

17/02/2021 - Common Supervisory Action in relation to MiFID II Product Governance Rules
Circular can be found here.

Gaming

Local update

12/02/2021 - The MGA publishes its Interim Performance Report for the Gaming Industry for the period January to June 2020
Link to the report can be found here.

Insurance

International updates

17/02/2021 - EIOPA defines its supervisory convergence priorities for 2021
Link to the release can be found here.

19/02/2021 - Business Model sustainability and adequate product design identified as new strategix supervisory priorities for national supervisors
Link to the release can be found here.

Sustainable Finance

International update

04/02/2021 - The Three European Supervisory Authorities publish Final Report and draft RTS on disclosures under SFDR
Link to the report can be found here.