Tag

InvestmentFunds

Beyond Sustainability Promises: ESMA Clarifies Impact and Climate Transition Claims Financial Services Regulatory & Fintech

Beyond Sustainability Promises: ESMA Clarifies Impact and Climate Transition Claims

An investment fund may hold shares in a renewable energy company without necessarily contributing to the environmental benefits that company generates. Similarly, a fund may report a lower portfolio carbon footprint even when emissions from its investee companies have not fallen. These distinctions matter when sustainability-related claims are communicated to investors. On 27 October 2026, the Malta Financial Services Authority (“MFSA”) issued a circular drawing attention to two thematic notes published by the European Securities and Markets Authority (“ESMA”) on 12 October 2026. The notes address impact claims and climate transition claims made in non-regulatory communications, including marketing materials and…
Rachel Gauci
4th November 2026
Castille Palace at Night
Maltese Residency for Investment Family Offices ImmigrationInvestment Services & Funds

Maltese Residency for Investment Family Offices

Investment family offices that are setting up an investment structure in Malta (or even a branch thereof) have been given an additional incentive to choose Malta as an EU base due to a new residency law interpretation. On the  3rd of December, the MFSA issued a circular together with Malta’s immigration authorities titled “Joint MFSA and Residency Malta Agency Communication on a New Residency Scheme for Family Offices”. The circular explicitly “focuses on granting residence permits to individuals forming part of a family office structure”, notably ultimate beneficial owners (UBOs) and qualifying senior employees. This initiative is intended to enhance…
Mario Mizzi and Julian Fenech Adami
5th December 2025
Manoel Island
SLPFs: Partnership Funds Without Legal Personality Investment Services & Funds

SLPFs: Partnership Funds Without Legal Personality

The Investment Services Act (Special Limited Partnership Funds) Regulations (“LN 30 (2025)” or “the Regulations”) introduced a new type of structure for investment funds in Malta which will be useful for those who are interested in setting up a vehicle without a separate legal personality. The Regulations provide the framework for the Special Limited Partnership Fund (“SLPF”), a limited partnership without juridical personality, a structure that aligns Malta with several other leading asset-management jurisdictions. The SLPF can only be set-up as an investment vehicle which is notified or licensed by the Malta Financial Service Authority (“MFSA”) as a collective investment…
Mario Mizzi
13th February 2025
Scene in Valletta
Family Offices Get Maltese Investment Law Exemption Investment Services & Funds

Family Offices Get Maltese Investment Law Exemption

Family offices which choose to manage their global investments from Malta have been given a new legal exemption through a recent amendment in the applicable investment services rulebook of the Malta Financial Services Authority (“MFSA”). On the  27th of November 2024, the MFSA issued a circular titled “Establishment of Single Family Offices in Malta”. The circular provides that a Notified Professional Investor Fund (“NPIF”) which is set up to solely manage the investment of a single family office (without raising external capital) does not require a licensed fund manager anymore. This is a beneficial exemption which reduces cost and bureaucracy…
Katya Tua and Mario Mizzi
28th November 2024
Mamo TCV Advocates: The EU regime regulating Alternative Investment Funds (AIFs) has been updated through the publication of the AIFMD II which replaces the first AIFMD originally published more than ten years ago.
Maltese Implications from the EU’s AIFMD II Directive Investment Services & Funds

Maltese Implications from the EU’s AIFMD II Directive

The regulatory landscape for investment fund management within the EU underwent an evolution with the enactment of ‘Directive (EU) 2024/927 on Delegation Arrangements, Liquidity Risk Management, Supervisory Reporting, the Provision of Depositary and Custody Services and Loan Origination by Alternative Investment Funds’, commonly referred to as AIFMD II (or the “Directive”).  The legal regime regulates alternative investment funds (“AIFs”) and their fund managers. AIFMD II replaces the first AIFMD. The publication of the AIFMD II in the EU's Official Journal on the 26th of March 2024 marked the commencement of this new phase in European fund regulation, with the Directive…
Mario Mizzi
23rd April 2024