S.L. 345.24 Art. 6Monitoring of compliance with the rules of the MTF or the OTF and with other legal obligations.

(1) Maltese investment firms and market operators operating an MTF or an OTF shall establish and maintain effective arrangements and procedures, relevant to the MTF or OTF, for the regular monitoring of the compliance by its members or participants or users with its rules.

(2) Maltese investment firms and market operators operating an MTF or an OTF shall monitor the orders sent, including cancellations and the transactions undertaken by their members or participants or users under their systems, in order to identify infringements of those rules, disorderly trading conditions, conduct that may indicate behaviour that is prohibited under MAR or system disruptions in relation to a financial instrument and shall deploy the resource necessary to ensure that such monitoring is effective.

(2a) Maltese investment firms and market operators operating an MTF or an OTF shall have arrangements in place to ensure that they meet data quality standards pursuant to Article 22b of MiFIR.

(3) Maltese investment firms and market operators operating an MTF or an OTF shall inform the competent authority immediately of significant infringements of its rules or disorderly trading conditions or conduct that may indicate behaviour that is prohibited under MAR or system disruptions in relation to a financial instrument. The competent authority shall communicate this information to ESMA and to the European regulatory authorities of other Member States or EEA States.

(4) With regard to conduct that may indicate behaviour that is prohibited under MAR pursuant to sub-regulation (3), the competent authority must be convinced that such behaviour is being or has been carried out before it notifies the European regulatory authorities of the other Member States or EEA States and ESMA.

(5) Maltese investment firms and market operators operating an MTF or an OTF shall supply without undue delay the information referred to in sub-regulations (3) and (4) above to the authorities competent for the investigation and prosecution of market abuse and to provide full assistance to the latter in investigating and prosecuting market abuse occurring on or through its systems.