Malta has enjoyed a steady increase in investment services and established itself as a key player within Europe over the past years. This success is the result of a robust legal framework which still allows flexibility combined with the ability to passport services to other jurisdictions within the European Union and the European Economic Area.
The Investment Services Act, Chapter 370 of the Laws of Malta, provides the regulatory framework and requires that every person providing investment services in or from within Malta must be in possession of a valid investment services licence.
The MFSA imposes a number of requirements in furtherance of these criteria, including a fitness and properness test on all senior staff. The MFSA tests the competence, reputation and solvency of subject persons to determine whether they are capable of exercising their roles with skill and diligence.
An ‘investment service’ is defined in the Investment Services Act as any of the activities listed hereunder when provided in relation to an instrument:
The term ‘instrument’ is also defined in the Investment Services Act, including, inter alia;
Investment Services licenses are divided into four categories, based on the nature of the services being provided:
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