S.L. 370.43 Art. 8Provision of services at the exclusive initiative of the client.

(1) Where a retail client or professional client, established or situated in Malta, initiates at its own exclusive initiative the provision of an investment service or activity by a third-country firm, the requirement for licensing under regulation 3 shall not apply to the provision of that service or activity by the third-country firm to that person including a relationship specifically relating to the provision of that service or activity:

Without prejudice to intragroup relations, where a third‐country firm, including through an entity acting on its behalf or having close links with such third‐country firm or any other person acting on behalf of such entity, solicits clients or potential clients in Malta, it shall not be deemed to be a service provided at the own exclusive initiative of the client.

(2) An initiative by such clients shall not entitle the third-country firm to market new categories of investment products or investment services to that client otherwise than through the branch, where one is required in accordance with Maltese law.