Issue link: https://maltatoday.uberflip.com/i/1308376
maltatoday | WEDNESDAY • 11 NOVEMBER 2020 NEWS THE Malta Financial Services Au- thority (MFSA) yesterday publishied an updated version of the Standard Licence Conditions applicable to Collective Investment Schemes au- thorised to invest through loans. The objective for the revision of the MFSA Loan Funds regime is for the Authority to achieve a bet- ter balance between the need for a sound regulatory framework and to make such regime more pragmatic and accessible to the fund industry given market developments and particularly, the current economic scenario, where certain business- es may be finding it increasingly difficult to gain access to capital through traditional lending sourc- es. The MFSA also took note of the relevant EU regulatory develop- ments and, notably, the focus be- ing placed on the area of non-bank financing by the European Com- mission, within the wider context of the Capital Markets Union. Be- sides, due consideration was given to the feedback provided by the industry to the Authority since the framework was set up. MFSA's Chief Officer Supervi- sion and Chief Executive Officer Ad Interim Dr Christopher P. Buttigieg commented that "This marks the attainment of one of the first key milestones forming part of the overarching MFSA Asset Management strategy related in- itiatives. This strategy is aimed at strengthening Malta's position as an asset management jurisdiction, also demonstrating the Authority's commitment to contributing to- wards the sustained development of this sector". Clare Farrugia, Head of Strategy, Policy, and Innovation, noted that, "In effecting these amendments, the Authority has carefully re-eval- uated its regulatory approach to this market, whilst acknowledging the critical role also played by ex- isting regulation, like the one reg- ulating the alternative investment management sector. The Authori- ty believes that the updated frame- work should provide the industry with a more pragmatic, but none- theless, robust regime". Any authorisations related que- ries in respect of the revised Loan Funds Rules framework are to be addressed to ausecurities@mfsa. mt, while supervision queries are to be addressed to funds@mfsa.mt. MFSA publishes revised Loan Funds Rules Framework The MFSA premises in Mriehel