On 20 December 2022, the Financial Intelligence Analysis Unit (FIAU) published a new set of Implementing Procedures – Part II, aimed at accountants and auditors. The guidelines, which will become effective on 1 April 2023, provide additional guidance on AML/CFT obligations arising from the Prevention of Money Laundering Act, the Prevention of the Money Laundering […]
In November 2022, the Financial Intelligence Analysis Unit (“FIAU”) published its Strategy for 2023 – 2026 which sets out, inter alia, its commitment to protecting the Maltese financial system and community from financial crime by combatting Money Laundering and Funding of Terrorism (“ML/FT”), through the generation and dissemination of useful intelligence and the application of […]
Camilleri Preziosi Advocates contribute to the Proskauer Rose and International Employment Lawyer “Guide to Whistleblowing”. The chapter can be downloaded by clicking on the link hereunder.
On 27 October 2022, the European Commission (the “Commission”) updated its Supranational Risk Assessment (“SRNA”) following a comprehensive assessment of specific Money Laundering and Terrorism Financing (“ML/TF”) risks affecting the EU’s internal market and relating to cross-border activities. Accordingly, the third edition of the SNRA focuses on ML/TF risks associated with products and services which […]
On 19 October 2022, the Malta Financial Services Authority (the “MFSA”) issued a circular informing the banking sector that it has issued a new Banking Rule BR/26 on the Stress Testing Requirements of Credit Institutions Licensed under the Banking Act (the “Rule”), repealing BR/12 Annex 2D – Principles on Stress Testing. The Rule is applicable […]
On Monday evening, Minister of Finance Clyde Caruana presented Malta’s budget to Parliament highlighting the Government’s economic vision for the upcoming year. Against a backdrop of global economic volatility and uncertainty, the budget reflects the government’s commitment to continue improving and building upon economic growth, whilst also safeguarding the interests of those most vulnerable in […]
On 10 October, 2022, the European Commission (the “Commission”) published its report (the “Report”) to the European Parliament and Council on the functioning of Regulation (EU) 2017/2402 (the “Securitisation Regulation”). More than three years after the entry into application of the Securitisation Regulation, the Report takes stock of the development of the market and discusses […]
On the 23rd September 2022, the European Securities and Markets Authority (“ESMA”), the European Union’s securities markets regulator, published its updated Questions and Answers (“Q&As”) on the Market Abuse Regulation (No. 596/2014) (“MAR”). The purpose of the Q&As is to promote common, uniform and consistent supervisory approaches and practices in the day-to-day application of MAR. […]
Malcolm Falzon, Louisa Firman and Liam Axisa have contributed the Malta Chapter to the ESG Comparative Guide published by Mondaq. You can view the full chapter by clicking here.
On the 29th of March 2022, the Malta Financial Services Authority (“MFSA“) issued a circular to the industry in which several amendments to the Investment Services Rulebooks were detailed. Such amendments cover the following: amendments to the Transparency provisions in the Investment Services Rulebooks to elaborate on the suitable channels Licence Holders may use to disclose […]