Malta revises CIS application packs
The Malta Financial Services Authority has revised its application packs that relate to the authorisation of collective investment schemes.
The application packs consist of the application forms, the checklists relating to the prospectus/offering documents and depositary agreement checklists, where applicable.
Applicants can start submitting applications using the revised application forms. It is the intention of the MFSA to replace the current application forms no later than 1 March.
For applications for Undertakings for Collective Investments in Transferable Securities or UCITS, the regulator is promising to reply, at least in brief, within 15 working days. The time-frame for the sub-funds of existing schemes (with known directors) is a mere 10 days. For alternative investment funds (AIFs) or Qualifying Professional Investor Funds (PIFs), it is 10 working days for new schemes and 5 for old. For self-managed UCITS, PIFs and AIFs and specialised funds, the time is 15 working days for new schemes and 10 for the sub-funds of existing schemes.
Source: Compliance Matters - Chris Hamblin, Editor, London, 20 January 2017