The MFSA is pleased to announce that it has issued its directives setting out the registration and regulatory requirements applicable to Retirement Schemes, Retirement Funds and their service-providers under the Special Funds (Regulation) Act, 2002. The directives may be viewed and downloaded from the Authority’s website: http://www.mfsa.mt by selecting ‘Investments/ Guidelines & Directives’.

The directives, which were initially issued in draft for consultation on the 24th July, 2003, have been finalised following the MFSA’s consideration of the feed-back received from the industry. Where considered appropriate, amendments have been made to reflect the feed-back received.

The issue of the directives coincides with the publication of the following Legal Notices:

Special Funds (Control of Assets)Regulations, 2003
Special Funds (Registration Fees) Regulations, 2003
Special Funds (Registration of Retirement Fund Custodians) Regulations, 2003

It is to be noted that the above-named Legal Notices as well as the above mentioned directives are effective as from 1st January, 2004.