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Consultation on the proposed Changes to Part A and Part BI of the Investment Services Rules for Investment Services Providers


From: Ministry for Finance
​Published on: ​24 March 2017
Running till: ​17 April 2017
​Last Updated: ​18 April 2017
1.        Background
Member States of the European Union have until 3 July 2017 to bring their laws and regulation in line with the requirements of the Market in Financial Instruments Directive, which will apply from 3 January 2018 (
“MiFID” or “The Directive”). It introduces new processes for
authorising investment firms and expands on the scope of regulated services and activities.
This consultation does not make any qualified amendments or rules and it is a guidance, which
is purely a help for firms to decide what MiFID-related notifications and applications they
should make. Please note that it is not an exhaustive document and it is the
firms’ responsibility to take the necessary action to ensure that their authorisation is appropriate and in accordance with MiFID II for the business that they plan or currently carry out.
The purpose of this consultation is to assess the industry feedback on the proposed changes
before the rules are finalised and published. The consultation consists of two main parts:
1) Consultation on changes being proposed to Part A of the Investment Services Rules for
Investment Services Providers ('ISRISPs' or 'the Rules'); and
2) Consultation on changes being proposed to Part BI of the Investment Services Rules
for Investment Services Providers
For further information kindly click here.
2.        Documents
3.        Submission of input
Comments and replies with respect to the above and/or the attached drafts were sent by email on by not later than 17 April 2017.
We thank you for your input. 
Data Protection Statement Data Protection Act (Chapter 440)
The Data Protection Act, 2001 regulates the processing of personal data whether held electronically or in manual form. The Ministry for Social Dialogue, Consumer Affairs and Civil Liberties collects only information which is necessary for it to perform its intended functions and is set to fully comply with the Data Protection Principles as set out in the Act.  Verification of the ID number provided will take place as deemed necessary. All personal data provided will be processed according to the Data Protection Act (Cap 440).
In addition, please be aware of:
·         Disclosure under the Freedom of Information Act (Chapter 496)
As we are a public authority all documents we hold, including documents related to this public consultation process, may be released following a request to us under the Freedom of Information Act (Chap. 496), unless such request may be subject of an exemption arising from the same Act.


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