At the height of the COVID-19 international crisis, EUROPOL released a report titled ‘Pandemic Profiteering: how criminals exploit the COVID-19 crisis’. At a time when Member States of the European Union are predominantly preoccupied with measures aimed at stopping the spread of the virus and controlling a raging outbreak, EUROPOL’s report is a stark reminder that society’s need to continue the fight against criminality, is however, hardly misplaced.
Malcolm Falzon to co-chair an INTERLAW webinar entitled Decrypting Crytpocurrencies.
In a circular issued on 27th March 2020 , the Listing Authority provided welcome guidance to listed companies, investors and the financial market at large as to the interplay between financial reporting deadlines under the EU Transparency Directive and the material uncertainties that listed companies are having to grapple with in the wake of the outbreak of the COVID-19 pandemic.
Following the global spread of COVID-19 public health concerns are having direct and significant impacts in the general economy. Radical actions have been and are further expected to be taken by national and local governments and authorities around the globe and the European Securities and Markets Authority (“ESMA”) is closely monitoring the situation in view of the continuing impact of the COVID-19 outbreak on financial markets in the European Union.
Member States are able to introduce national state aid schemes that mitigate the negative effects of the COVID-19 pandemic by utilizing Articles 107(2)(b) and 107(3)(b) (particularly through the Temporary Framework adopted by the European Commission on 19 March 2020) of the Treaty on the Functioning of the European Union (TFEU).
Businesses impacted by the COVID-19 pandemic may further avail from a third set of Governmental economic measures which have been announced by Prime Minister Robert Abela yesterday evening. This third financial package is estimated to cost €70million per month and will apply retrospectively as from the 9th March 2020.