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Published:
21.7.2014
Last Updated:
25.7.2024

MFSA Annual Report 2013 Malta

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Summary

MFSA Annual Report 2013 MaltaMFSA Annual Report 2013 Malta

cONTINUE rEADING

The Malta Financial Services Authority’s recently issued 2013 Annual Report highlights the jurisdiction’s continued growth as a fund domicile, reporting that 135 new funds were licensed in Malta in 2013. Investment Services are the fastest growing financial activity in the country, Professional Investor Funds remaining the main growth sector, with 115 new PIF licenses being issued. Growth was also reported in the UCITS and private collective investment scheme sectors. Additionally, 188 non-Maltese domiciled funds were administered by Maltese-based fund administration companies at the end of 2013. The number of companies licensed to provide investment services increased to 125, with twenty-one new companies being licensed in 2013, eighteen of which were licensed as Category 2 investment services providers.

The Report indicates that Malta remains an attractive jurisdiction for operators wanting to set up captive and other insurance and reinsurance business, with the jurisdiction being the only EU Member State having legislated for Protected Cell Companies and Incorporated Cell Companies. Significant growth was also recorded in the number of retirement schemes registered in 2013, which doubled in number from 2012 to 2013. During 2013, the MFSA moreover concluded its proposed amendments to the Trust and Trustees Act.

The report notes that the jurisdiction, like other financial services centres, faces a number of challenges due to rapid regulatory change. However, Malta has proven to respond well to such regulatory challenges and the Report highlights that it was the first EU jurisdiction to complete the transposition of AIFMD. The Report also described the Maltese banking sector as having retained ‘adequate liquidity, capitalisation and profitability levels’.  

 

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MFSA Annual Report 2013 MaltaMFSA Annual Report 2013 Malta

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Copyright © 2025 Chetcuti Cauchi. This document is for informational purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking any action based on the contents of this document. Chetcuti Cauchi disclaims any liability for actions taken based on the information provided. Reproduction of reasonable portions of the content is permitted for non-commercial purposes, provided proper attribution is given and the content is not altered or presented in a false light.

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