On the 20th March 2020, the Malta Financial Services Authority (“MFSA”) issued a Circular dealing with the timing of regulatory reporting in light of the outbreak of the COVID-19 pandemic by virtue of which the Malta Financial Services Authority (“MFSA”) informed market participants that it would be accepting a delay from the reporting deadline for some of the submissions/publications falling due by March or April 2020.
The Malta Financial Services Authority (“MFSA”) has today issued a consultation document entitled “Guidance on Technology Arrangements, ICT and Security Risk Management, and Outsourcing Arrangements.”
The term ‘green loan’ has become increasingly omnipresent in economic and market discourse. What is a ‘green loan’ and what distinguishes it from your typical ‘loan’?
As efforts to tackle the pressing threats posed by climate change intensify, so has the pressure on financiers and investors to contribute to the solution. Although in its early stages, it is increasingly recognised that the adoption of sustainable finance is bound to be a key component of any sustainable development strategy.
Following the public consultation launched in 2019 on draft guidelines on certain aspects of the MiFID II compliance function requirements, on 5 June 2020 the European Securities and Markets Authority (“ESMA”) published the final guidelines on the MiFID II compliance function, which guidelines replace the ESMA guidelines on the same topic issued in 2012 and are designed to establish consistent, efficient and effective supervisory practices and to ensure the common, uniform and consistent application of certain aspects of the MiFID II compliance function.
On the 8th June, the Prime Minister, Minister for Finance and Financial Services and the Minister for the Economy, Investment and Small Businesses held a press conference setting out an economic recovery plan comprising a multitude of measures aimed at regenerating the Maltese economy post the COVID-19 pandemic.