ARTICLE
17 October 2014

Changes To The Rules Applicable To Depositary Lite Licence Holders

GA
GVZH Advocates

Contributor

GVZH Advocates is a modern, sophisticated legal practice composed of top-tier professionals and rooted in decades of experience in the Maltese legal landscape. Built on the values of acumen, integrity and clarity, the firm is dedicated to providing the highest levels of customer satisfaction, making sure that legal solutions are soundly structured, rigorously tested, and meticulously implemented.
The MFSA published a revised version of Investment Services Rules for Investment Services Providers applicable to entities licensed under the Depositary Lite regime.
Malta Finance and Banking

On Monday 6th October 2014, the MFSA published a revised version of Investment Services Rules for Investment Services Providers applicable to entities licensed under the Depositary Lite regime.

The Circular provides a comparison of the previous and revised versions of the SLCs, along with an explanatory note of each revision, describing the rationale behind the application of the AIFM Directive provisions.

The amendments clarify that an entity licensed as a depositary lite for EU AIFS would not be subject to the strict liability clauses unless the said entity holds in custody financial instruments in accordance with the AIFMD. In the latter case, the strict liability provisions would apply to depositary lite entities with respect to such instruments.

A copy of this circular is available here. For direct access to the AIFM Directive click here.

www.csb-advocates.com

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.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More