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Bill No. 232
Various Financial Services Laws (Amendment) Bill Back to List

Thirteenth Legislature (2017 - )

Objects and Reasons

The objects and reasons of this Bill are to implement the relevant provisions of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC; to further transpose the provisions of Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC; to implement the relevant provisions of Regulation (EU) 2021/337 of the European Parliament and of the Council of 16 February 2021 amending Regulation (EU) 2017/1129 as regards the EU Recovery Prospectus and targeted adjustments for financial intermediaries and Directive 2004/109/EC as regards the use of the single electronic reporting format for annual financial reports, to support the recovery from the COVID-19 crisis; to implement the relevant provisions of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector; to transpose the relevant provisions of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU; to enhance and elaborate on the purposes and objectives of the MFSA in its role as sole competent authority in terms of the Prospectus Regulation; to enhance the functions and powers of the MFSA, as is necessary, for it to fulfil its purposes and objectives; to enhance the drafting of the provisions of the Financial Markets Act (Cap. 345); to make the necessary revisions to other Acts in view of the new definitions being proposed and the removal and replacement of previously defined terms; and to provide for other ancillary amendments.

Motion No. 560 - Various Financial Services Laws (Amendment) Bill

Act No. XLVI of 2021 - Various Financial Services Laws (Amendment) Act

 

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