On the 2nd April 2019, the Malta Financial Services Authority issued an updated version of the Conduct of Business Rulebook. The changes mainly relate to:

  1. The PRIIPs Regulation – A new section has been introduced which incorporates the rules on key information emanating from the PRIIPs Regulation, namely rules applicable to Regulated Persons when they manufacture and/or offer packaged retail and insurance-based investment products to Retail Clients.
  2. Requirements for Cross-Selling Practices Applicable to the Securities Sector – New requirements have been included which reflect the requirements of the ESMA Guidelines on cross-selling practices. The requirements are applicable to investment firms, credit institutions upon the provision of investment services and UCITS management companies when providing services in terms of Article 6(3) of the UCITS Directive.
  3. Definitions – The Definitions/Glossary section has been updated in line with MiFID II, including amendments or additions of the definitions of 'distributor', 'manufacturer', 'cross-selling practice', 'bundled package', 'tied package' and 'component product'.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.