The Malta Financial Services Authority is proposing a new regulation on securitisation cell companies. The draft regulation was launched as part of a consultation process on the 4th September 2014. The consultation runs through until the 24th September 2014.
The draft regulations create a new legal entity, the Securitisation Cell Company (‘SCC’), being a single legal entity having the ability to establish one or more cells for the purpose of securitisation transactions. The proposals mark the first attempt of a European Union state to legislate for the use of cell companies as securitisation vehicles. The proposals are built on Malta’s established reputation as a cell domicile in the funds and insurance sectors.