New financial services business
The MFSA has issued various new licences during the first six months of this year including licences to professional investor funds, insurance companies and trustees.
Forty professional investor fund (PIFs) licences have been issued during this period: 34 licences to PIFs targeting qualifying investors, three PIFs targeting extraordinary investors and three PIFs targeting experienced investors.
Licences to PIFs targeting qualifying investors include additional licences issued to Altma, NBCG, VIP Select and Alphabetos. Licences issued to PIFs targeting extraordinary investors have been issued to DGV Investment Fund SICAV plc, Foinavon SICAV plc and Wood and Company Textiles. The three licences issued to PIFs targeting experienced investors include licences issued to Hermes Linder Fund SICAV, Global and Emerging Market Real Estate Funds SICAV and SB Global Fund SICAV.
Malta's fund servicing capabilities also continued building up over the past six months. Category 2 investment services licences have been issued to MPM Capital Limited, Theorema Advisors Ltd and DAM Malta Ltd. Category 3 Investment services licences have also been issued to RTFX and Nemea Bank.
Since the beginning of the year the MFSA has authorised Shield Insurance Company Ltd to carry on in and from Malta business of affiliated insurance and Pembroke International Insurance Company Ltd has been authorised to carry on business of affiliated insurance restricted to risks outside Malta.
The total number of affiliated insurance companies operating from Malta has now increased to eight.
The MFSA has also authorised QIC International LLC to carry on business of insurance and reinsurance in Malta and Platinum Insurance Ltd to carry on in and from Malta business of insurance restricted to risks outside of Malta.
The total number of licences issued to insurance companies has reached a total of 46.
The thirteenth insurance manager has also been authorised during this period - Abacus Risk Management Services PCC Ltd.
Up till last month, three companies have also been authorised to receive property under trusts and to act as trustee or co-trustee - Maitland, Custom House and Dominion Fiduciary Services. There are currently 99 companies authorised as trustees.
Further information including: MFSA Consultations; New licences issued during June/July can be accessed from timesofmalta.com.
The MFSA is also producing an extended electronic version of its monthly newsletter. This may be downloaded from the publications section on the MFSA website or requested by email addressed to email@example.com.
MFSA web site: www.mfsa.com.mt
Registry web site: http://registry.mfsa.com.mt
Consumer web site: www.mfsa.com.mt/consumer