The Introduction of Appendix 2E – A Financial Return for Depositaries

On the 11^th of April 2022, the Malta Financial Services Authority (the “MFSA”) issued a circular entitled “The Introduction of Appendix 2E – A New Regulatory Return for Licence Holders Offering Depositary Services Solely to Collective Investment Schemes”.

Through this circular, the MFSA remarked that along with the requirement to submit the annual report and audited financial statements, a new regulatory return, being Appendix 2E, is being introduced for depositaries of Collective Investment Schemes that are not allowed to offer any MiFID services and licensed as a credit institution in terms of the Capital Requirements Directive. The depositaries who are obliged to submit this return are those who are not licensed as Depositary Lite, neither as Credit Institutions nor as Investment Firms. For further guidance on the depositary’s reporting requirements, kindly refer to the circular which incorporates an up-to-date table.

The audited Appendix 2E return should be submitted along with the audited financial statements pack, both in original and in electronic version, within four months from the accounting reference period; the first audited return being applicable for the period ended 31^st December 2021.

Moreover, the MFSA informed licence holders that they must submit an interim financial return on a quarterly basis in an electronic version and must submit the original representation sheet within one month of the accounting reference date.

Following the above amendments, the MFSA proceeded to update its Rulebook to cater for such changes.