Asset Management Taxonomy Act

---
guosmmDocumentId: GUOSMM-A-2026-009
title: "Asset Management Taxonomy Act"
instrumentVersion: 1.0
language: en
publishedAt: 2026-07-15T00:00:00Z
effectiveAt: 2026-07-15T00:00:00Z
signingAuthority: "Sovereign Military Order of Malta"
licenseId: LICENSE-SHOSJJ-ASSET-MANAGEMENT-TAXONOMY-2026-001
entityId: shosjj-licensing-authority
---

# GAZZETTA UFFICIALE DELL'ORDINE SOVRANO MILITARE DI MALTA
# OFFICIAL GAZETTE OF THE SOVEREIGN MILITARY ORDER OF MALTA (GUOSMM)

| Field | Value |
|-------|-------|
| Document ID | `GUOSMM-A-2026-009` |
| Series | A |
| Document type | Taxonomy Act |
| Published | 2026-07-15T00:00:00Z |
| Effective | 2026-07-15T00:00:00Z |
| Licence number | `LICENSE-SHOSJJ-ASSET-MANAGEMENT-TAXONOMY-2026-001` |
| Entity | shosjj-licensing-authority |

---

# Asset Management Taxonomy Act

## Section 1 — Purpose

1.1 This Act defines the controlled taxonomy for asset-management licensing published under GUOSMM.

1.2 The taxonomy is a definitional layer only. It does not itself grant market access.

## Section 2 — Core license classes

| License class | Description | Typical use |
|---------------|-------------|-------------|
| `entity.asset_manager` | Base regulated institution | Top-level manager / principal license |
| `activity.portfolio_manager` | Discretionary portfolio management | Managed accounts and mandates |
| `activity.investment_adviser` | Advice without discretion | Advisory services and research |
| `activity.vc_fund_manager` | Venture capital fund management | VC funds only |
| `activity.hedge_fund_manager` | Hedge / private fund management | Alternative funds and private pools |
| `activity.wealth_manager` | Private wealth management | HNW and family-office mandates |
| `activity.dealing_arranging` | Dealing, placing, arranging, execution | Trade routing and transaction support |
| `activity.custody_nominee_escrow` | Safekeeping, nominee, escrow | Client-asset handling |

## Section 3 — Scope rules

3.1 A firm may hold more than one license class, but each class must be expressly published.

3.2 Activity classes are not interchangeable. A VC fund manager is not automatically a hedge fund manager, and a wealth manager is not automatically a custodian.

3.3 Dealing, arranging, or execution permissions do not arise from advice or portfolio-management permissions unless expressly granted.

## Section 4 — Mandatory boundaries

4.1 The following are separate regulated dimensions and must be stated expressly if intended:

- custody
- derivatives
- commodities
- FX
- securities placement
- retail distribution
- public solicitation
- cross-border marketing

4.2 No license class implies a bank charter, deposit-taking authority, exchange membership, or public-market listing authority.

## Section 5 — Package mapping

5.1 A VC operating model should normally combine:

- `entity.asset_manager`
- `activity.vc_fund_manager`
- `activity.investment_adviser` or `activity.portfolio_manager` if advice is offered

5.2 A hedge operating model should normally combine:

- `entity.asset_manager`
- `activity.hedge_fund_manager`
- `activity.portfolio_manager`
- `activity.dealing_arranging` where execution is in-house

5.3 A wealth operating model should normally combine:

- `entity.asset_manager`
- `activity.wealth_manager`
- `activity.portfolio_manager`
- `activity.investment_adviser`

## Section 6 — Custody rule

6.1 Custody is a separate decision point and should be excluded by default.

6.2 If custody is intended, the published instrument must state the custody perimeter, segregation model, and any third-party custodian or depositary requirement.

## Section 7 — Cross-border rule

7.1 The taxonomy is jurisdiction-neutral and therefore must be mapped to local law before external use.

7.2 No party may rely on the taxonomy as a substitute for local registration, approval, passporting, or filing.

---

*Signing authority: Sovereign Military Order of Malta*