MFSA issues Consultation Document on Security Token Offering

22 Jul 2019

On the 19th of July 2019 the Malta Financial Services Authority (the “MFSA”) issued a Consultation Document on Security Token Offering (the “Consultation”).

 

This Consultation forms part of the Capital Markets Strategy, Pillar II – Revising the Regulatory Framework, and seeks to cater for the needs of the industry while at the same time safeguarding the investors and ensuring market integrity. Indeed, following the coming into force of the Virtual Financial Assets Act which inter alia regulates VFA Offerings, the MFSA is now seeking to establish legal certainty for Security Token Offerings ("STO's") in Malta.  

 

The aim of this Consultation is for the MFSA to gain an understanding of the stakeholder’s views on this policy. This Consultation is divided in six sections as follows:

 

  • Defining Security Tokens;

  • Applications for approval of prospectuses and/or admissibility to listing and trading of Traditional STOs;

  • Transparency Requirements;

  • Secondary Markets;

  • Market Abuse Regulation; and

  • Post-trade settlement.

 

Industry participants are invited to participate in this consultation process until the 30th August 2019.

 

Please feel free to contact us if you require further details on Security Token Offerings in Malta.

 

 

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