On 13 January 2021, the European Securities and Markets Authority (ESMA) issued a public statement intended to remind investment firms of the requirements under MIFID II on the provision of investment services to retail or professional clients by firms not established or situated in the European Union. In particular, the statement notes certain questionable practices […]
The European Union Intellectual Property Office recently launched its Ideas Powered for Business SME Fund (the “Fund”) which is aimed at assisting small and medium-sized enterprises (“SMEs”) access their intellectual property rights. The Fund is a €20,000,000 grant scheme supported by the European Commission. Applications for access to the Fund shall open in five phases […]
With effect from 4th January 2021, the Malta Financial Services Authority announced a number of amendments to certain sections of the Investment Services Rules for Investment Services Providers, with the scope of implementing ESMA’s Guidance on performance fees in investment funds – applicable to Undertakings for the Collective Investment in Transferable Securities (UCITS) and certain […]
On the 4th January 2021, the Commissioner for Revenue has published guidelines (the “Guidelines”) which seek to provide additional clarity as regards the reporting obligations arising in terms of Council Directive (EU) 2018/822 of 25th May 2018 (“DAC 6” or “Directive”) regarding the mandatory automatic exchange of information in the field of taxation in relation […]
On 10 November 2020 the Malta Financial Services Authority (the “MFSA”) published a revised version of the Standard Licence Conditions applicable to Collective Investment Schemes authorised to invest through loans (the “Loan Fund Rules”). As part of the framework’s restructuring, the MFSA carried out an assessment of the Loan Fund Rules in view of new […]
In November 2020, the European Securities and Markets Authority (“ESMA”) conducted a series of updates to its Q&A documents, issuing updated versions of its Q&A on the Prospectus Regulation (Regulation (EU) 2017/1129) and its Q&A on the Transparency Directive (2004/109/EC) on the 9th November 2020. Updated Q&A on the Prospectus Regulation Questions 16.1 and 16.2 […]
On 19 October 2020 the Malta Budget for the year 2021 was presented to the Parliament of Malta. The measures introduced are principally geared at softening the blow of the COVID-19 pandemic which yet stifles the global economy. In this respect, the overall focus of the budget measures is towards improving the quality of life, […]
Although no major changes to Malta’s tax regime have been proposed in the Budget Speech 2021, a number of measures are being implemented which are geared at softening the blow of the pandemic which yet stifles the global economy. With an overall focus on improving the quality of life, incentivising economic growth, moving towards and […]
A newly announced legal notice will allow those in possession of a temporary emphyteusis on a commercial premises expiring after the 31st of August, to renew their concession for an extended term. Introduction On the 15th of September 2020, Legal Notice 369 of 2020 came into force, empowered by the Government Lands Act ( […]
Recent Guidelines issued by the EDPB hold that merely restating the provisions of Art. 28 GDPR within a Data Processing Agreement (“DPA”) will no longer suffice insofar as compliance with the GDPR is concerned. Rather, a DPA must also include detailed information as to the security measures adopted, as well as providing for a regular […]