S.L. 370.52 Art. 11Fees in relation to European investment firms. S.L. 370.10.   S.L. 370.10.        S.L. 370.10.

(1) A European investment firm that intends to establish a branch in Malta in accordance with regulation 3 of the

European Passport Rights for Investment Firms Regulations shall, upon being notified by the European regulatory authority of its home Member State in accordance with Article 35(3) of MIFID as transposed in national law, pay the competent authority a notification fee as established in the First Schedule, as applicable:

Provided that such notification fee shall vary depending on whether the European investment firm is licensed by the European regulatory authority of its home Member State:

(a) to provide, or hold itself out as providing, the investment services referred to in points (1), (5) and, or (7) of Section A of Annex I of MIFID but not to hold and control clients’ money or customers’ assets;

(b) to provide, or hold itself out as providing, any of the investment services set out in Section A of Annex I of MIFID, other than those referred to in points (3), (6) and (8) as set out in the said Section of Annex I of MIFID, and to hold and control clients’ money or customers’ assets; or

(c) to provide, or hold itself out as providing, any of the investment services set out in Section A of Annex I of MIFID and to hold and control clients’ money or customers’ assets.

(2) A European investment firm that has established a branch in Malta in accordance with regulation 3 of the European

Passport Rights for Investment Firms Regulations shall, subject to the provisions of sub-regulation (3), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable:

Provided that such annual supervisory fee shall vary depending on whether the European investment firm is licensed by the European regulatory authority of its home Member State:

(a) to provide, or hold itself out as providing, the investment services referred to in points (1), (5) and, or (7) of Section A of Annex I of MIFID but not to hold and control clients’ money or customers’ assets;

(b) to provide, or hold itself out as providing, any of the investment services set out in Section A of Annex I of MIFID, other than those referred to in points (3), (6) and (8) as set out in the said Section of Annex I of MIFID, and to hold and control clients’ money or customers’ assets; or

(c) to provide, or hold itself out as providing, any of the investment services set out in Section A of Annex I of MIFID and to hold and control clients’ money or customers’ assets.

(3) The first annual supervisory fee due in accordance with sub-regulation (2) shall be paid to the competent authority on the date when the branch of the European investment firm can commence its business in Malta in accordance with regulation 3(3) of the European

Passport Rights for Investment Firms Regulations and annually thereafter on the date when such branch was able to commence its business in Malta in accordance with the said provision.