New fund product in Malta: Fast track notification process has been saved
New fund product in Malta: Fast track notification process
11 February 2016
Investment management news relating to the financial services industry in Malta provided by Deloitte professionals
The Malta Financial Services Authority (MFSA) has today announced a new fund framework which will enable Notified Alternative Investment Funds (Notified AIFs) to be operative within 10 working days. This scheme is applicable for funds which are managed by full-scope Alternative Investment Fund Managers (AIFMs). The Notified AIFs will undergo a simple notification process and will not be authorised or approved by the MFSA. The Notified AIFs will therefore not be required to undergo a regulatory application process. Furthermore, the Notified AIFs will not be subject to ongoing supervision. The AIFM will assume full responsibility for the Notified AIF. The MFSA shall make available and maintain updated on its website a list of Notified AIFs in good standing. The scheme is expected to become operative before the end of the second quarter this year.