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The 30 June 2026 deadline is fast approaching for in-scope listed companies to fulfil the gender balance targets laid down in Chapter 13 of the Malta Financial Services Authority (‘MFSA’)’s Capital Markets Rules (implementing Directive (EU) 2022/2381). These requirements do not apply to debt issuers and micro, small and medium-sized enterprises.
What must be achieved?
By 30 June 2026, companies must meet one of the following targets:
- At least 40% of non-executive directors are of the underrepresented sex; or
- At least 33% of all directors (executive and non-executive) are of the underrepresented sex.
Reporting and disclosure obligations
In addition to meeting the targets, companies are subject to ongoing annual reporting and disclosure obligations, including:
- Submitting information on the gender composition of their boards, distinguishing between executive and non-executive directors, to the MFSA;
- Disclosing the measures taken to achieve the gender balance targets;
- Publishing this information on the company’s website and, where applicable, in the Corporate Governance Statement; and
- Where targets are not met, explaining the reasons for non-compliance and outlining the corrective measures taken or intended to be taken.
The next reporting cycle is imminent, with submissions expected by 1 July 2026.
Next steps
With only weeks remaining, in-scope companies should consider the following steps:
- Review their current board composition against the applicable thresholds;
- Document policies and measures supporting gender balance; and
Ensure that internal teams are prepared to meet reporting and disclosure requirements on time.
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.
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