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Bill No. 204 - Various Financial Services Laws (Amendment) Bill

Twelfth Legislature (2013 - 2017)

Debated in 1st Reading 2nd Reading Committee Recommittal 3rd Reading
Sitting No. 498  -  22 Mar 2017
Plenary Session
⦿

Objects and Reasons

The object of this Bill is to affect amendments to the Financial Markets Act and the Investment Services Act, to transpose and implement the relevant provisions of (i) Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU ("MiFIR"), and (iii) Regulation (EU) No. 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No. 236/2012 ("the CSDR") and also to carry out amendments to the Companies Act in order to transpose and implement the relevant provisions of the CSDR. The object of this Bill is also to amend the Malta Financial Services Authority Act in view of (i) Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds; and (ii) Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse.

Motion No. 457 - Various Financial Services Laws (Amendment) Bill

 

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