To update you on the latest developments on the implementation of the Alternative Investment Fund Managers Directive (AIFMD), coming into force with effect from 22nd July 2013, the Malta Financial Services Authority (MFSA) has published self-assessment questionnaires on its website for fund managers and self-managed collective investment schemes.
Depending on the business model, Alternative Investment Fund Managers (AIFM) are requested to determine, by completing the questionnaires, whether it can categorized as 1) an AIFM which activities require it to be re-licensed or opts to be licensed as an AIFM in terms of the AIFMD or 2) an AIFM which does not intend to opt to be licensed as an AIFM in terms of the AIFMD.
Existing license holders have a one year transitional period with effect from 22nd July 2013 so as to register as an AIFM not needing to be re-licensed or to apply for a full AIFM license and satisfy the requirements of the AIFMD.
License holders, who wish to be AIFM compliant and seek a license upon coming into force of the AIFMD i.e. on 22nd July 2013, will need to notify the MFSA accordingly and submit the relevant self-assessment questionnaire no later than Monday, 10th June 2013. The MFSA will endeavour to process such request with a view to issuing revised licenses as soon as or soon after the AIFMD comes into force.
If you have any specific questions or comments, please contact your account manager(s) or if you are not a VBK client, please use our web.site@vbkservices.com email address to contact us.
Link to MFSA: http://www.mfsa.com.mt/pages/announcement.aspx?id=5503