On the 10th July 2020, the Companies Act (Public Companies – Annual General Meetings) Regulations, 2020 were published by virtue of L.N. 288 of 2020 (the “Regulations”). The Regulations apply to all public companies and feature one component of the Maltese legislator’s response to the COVID-19 pandemic and its effect on Maltese listed companies. The […]
On 10 June, 2020, the High-Level Forum (HLF) on the Capital Markets Union (CMU), an expert group set up by the European Commission composed of highly experienced industry executives and top international experts in the area of financial markets, issued its final report for the further development of the CMU, the policy initiative launched by […]
The Malta Financial Services Authority (“MFSA”) has today issued a circular addressed to investment service licence holders and collective investment schemes falling within the scope of the Securities & Markets Supervision function on its revamped approval process of persons being proposed to hold committee positions with certain authorised entities. 1. Requirement to submit a Personal […]
Further to our news item regarding the postponement of the Regulation (EU) No 2015/2365 on Securities Financing Transactions (“SFTR”) reporting deadlines, the Malta Financial Services Authority, in its circular dated 8 July 2020, reminded entities acting as a counterparty to securities financing transactions (“SFT”) (as defined in terms of the SFTR) and falling within the […]
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 MFSA is proposing to issue principle-based cross-sectoral guidelines in the areas of Technology Arrangements, ICT and Security Risk Management, and Outsourcing Arrangements and establish its regulatory expectations with respect […]
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 […]
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’? Traditionally, a ‘loan’ is identifiable as such if the instrument in question satisfies three basic financial and legal criteria, namely that the instrument prescribes a specific purpose for […]
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. As suggested in […]
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 […]
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. The said plan targets the following economic […]