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Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,774, 27 ta’ Jannar , 2022
Taqsima  B
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L.N. 31 of 2022
INVESTMENT SERVICES ACT
(CAP. 370)
CRD (Administrative Penalties, Measures and Investigatory 
Powers) (Amendment) Regulations, 2022
IN EXERCISE of the powers conferred by article 12 of the
Investment Services Act, the Minister responsible for the regulation of
Financial Services, acting on the advice of the Malta Financial
Services Authority, has made the following regulations:
Title and 
commencement.
S.L. 370.25.1. (1) The title of these regulations is the CRD
(Administrative Penalties, Measu res and Investigatory Powers)
(Amendment) Regulations, 2022, and these regulations shall be r ead
and construed as one with the CRD (Administrative Penalties,
Measures and Investigatory Powers) Regulations, hereinafter referred
to as the "principal regulations".
(2) These regulations shall come into force on such date as the
Minister may establish by notice in the Gazette.
Amends 
regulation 2 of 
the principal 
regulations.2. In sub-regulation (1) of regulation 2 of the principal
regulations, the definition "mixed financial holding company" shall be
substituted by the following:
S.L. 330.06."mixed financial holding company" shall have the same
meaning as that assigned to it in regulation 2 of the FinancialConglomerates Regulations.".
Amends 
regulation 6 of 
the principal 
regulations.3. Regulation 6 of the principal regulations shall be amended
as follows:
(a) the marginal note thereof, shall be substituted by the
following:
"Administrative penalties and measures."; and
(b) for the words "may apply on such investment shall
include", there shall be substituted the words "may apply on su ch
investment firm shall include".
Adds new regulation 6A to 
the principal 
regulations.4. Immediately after regulation 6, there shall be added the
following new regulation:
"(6A)When the competent authority takes a decision in the
VERŻJONI ELETTRONIKA
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exercise of its supervisory powers and powers to impose
penalties, it shall specify the reasons on which the said decis ion
is based.".
Amends the 
Schedule 
annexed to the principal 
regulations.5. The Schedule annexed to the principal regulations shall be
amended as follows:
(a) for the words "SCHEDULE (Regulation 5)", there
shall be substituted the words "SCHEDULE (Regulation 6)" and
immediately thereafter, for the words "The provisions ofregulation 5", there shall be substituted the words "The
provisions of regulation 6"; and
(b) immediately after paragraph (m) thereof, there shall
be added the following new paragraph:
S.L. 370.15."(n) a parent institution, a parent financial holding
company or a parent mixed financial holding company fails
to take any action that may be required to ensure
compliance with the prudential requirements set out in Part
Three, Four, Six and Seven of the CRR or imposed underpoint (a) of Article 104(1) or Article 105 of the CRD as
transposed in the Investment  Services Act (Supervisory
Review) Regulations on a consolidated or sub-consolidatedbasis.".
VERŻJONI ELETTRONIKA