On the 10th June 2016, the Malta Financial Services Authority (MFSA) issued a Circular to the financial services industry in order to clarify the Authority’s position in relation to the payment of statutory notification fees in respect of applications for cross-border marketing of units of European venture capital funds and European social entrepreneurship funds in terms of the EuVECA and EuSEF Regulations respectively.

no application fees will be applied for EU-based European venture capital and social entrepreneurship funds when applying for cross-border marketing of their units in Malta

By virtue of the said Circular, the MFSA effectively confirmed that no application and/or notification fees will be applied for EU-based European venture capital and social entrepreneurship funds (EuVECAs and EuSEFs) when applying for cross-border marketing of their units in Malta.

The MFSA further confirmed that the appropriate amendment of the relative provisions of the ‘Investment Services Act (Fees) Regulations’ is currently underway and is expected to be published shortly.