The Malta Financial Services Authority (the “Authority”) has issued a circular underlining updates to three key regulatory reporting templates:
- Annual Fund Return
The Annual Fund Return has been update to Version 1.10 and is now available on the MFSA website. Collective Investment Schemes must now report the Total Expense Ratio (“TER”) as part of the Statement of Income, in line with the Authority’s 2024 TER review. This version applies to submission deadline falling after 15 June 2025. According to the CESR Guidelines, the TER represents the ratio of a fund’s total ongoing operational expenses excluding one-off costs such as performance fees and transaction costs to its average Net Asset Value (“NAV”). The Authority’s follow-up revealed that some funds misapplied the TER formula, using total NAV instead of average NAV or failing to exclude one-off costs.
- Appendix 2B (Fund Managers)
The Appendix 2B return has been updated to Version 12 and is now available on the MFSA website. This version will apply for submission covering Q2 2025 onwards. Minor updates have been made to the formatting of certain data labels under the ‘Income’ section.
- MiFID Firms Quarterly Reporting Return for Investment Firms
This change involved the MiFID Quarterly Reporting (the “Return”), submitted by Investment Firms. The Authority has updated the Return’s template to reflect changes, involving different tabs as follows:
Part A
- Retail Investor Trends: The inclusion of the number of retail clients with portfolios containing less than €20,000 to be reported, and the aggregate value to be provided.
- Complaints: The reporting of the number of complaints in relation to ESG to be reported;
- Additional Details: Total number of clients to be reported in a dedicated table, including details on active clients; question on the use of digital platforms, and on whether the Firm is a distributor of an international Investment Firm.
Part B
- Financial Details: Details on the net cash flow and EBITDA to be provided.
Part C
- Exposure to Maltese Banks: Details on the exposure through assets under custody to be provided.
Confirmations: Additional confirmations to be provide
A revised Guidance Document is available to support firms in compiling the updated returns. Submission deadlines and naming conventions of the Return remain unchanged.
Contacts
In case of queries in relation to the Annual Fund Return and/or Appendix 2B, an email can be sent to [email protected].
In case of any queries in relation to the Conduct-Related Data (i.e. Part A of the Return), an email can be sent to [email protected].
In case of queries in relation to the Prudential Data (i.e. Part B of the Return), you may wish to contact [email protected].
In case of queries in relation to Part C – Exposure to Maltese Banks, you may wish to contact [email protected]
