Category: News

Contracting Authorities and tenderers granted revolutionary tools for their procurement activities – Public Procurement Data Space and Big Buyers Initiative

Just a few days ago, the European Commission published its communication titled ‘Public Procurement: A data space to improve public spending, boost data-driven policy-making and improve access to tenders for SMEs’ (2023/C 98 I/01), officially launching the Public Procurement Data Space.The Commission notes that every year in the EU, over 250,000 public authorities spend €2 […]

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CP assists Phoenix Payments in Landmark Constitutional Judgement

In a landmark judgement handed down by the First Hall, Civil Court, presided by the Hon. Justice Audrey Demicoli, earlier today the court found that the law granting the Financial Intelligence Analysis Unit (“FIAU”) the right to investigate and impose hefty administrative fines on subject persons as a result of certain regulatory breaches violate the […]

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Camilleri Preziosi contributed to OneTrust DataGuidance: Cybersecurity

Camilleri Preziosi contributed the Malta Cybersecurity Note (the ‘Note’) on OneTrust’s DataGuidance platform.OneTrust’s DataGuidance platform provides in-depth and up-to-date regulatory research on privacy and security regulations around the world.The Note provides an overview of the legal framework governing cybersecurity in Malta, and can be downloaded by clicking on the link hereunder. It explores key aspects […]

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FATF Updates – 2023

During the first quarter of 2023, the Financial Action Task Force (“FATF”) published new documents aimed at assisting countries and subject persons. Here are some highlights of the guidance provided in these documents:Guidance on Beneficial Ownership for Legal PersonsThe Guidance on Beneficial Ownership for Legal Persons document aims to help countries and individuals prevent the […]

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MFSA Findings and Observations identified during the ESMA Common Supervisory Action on Valuation of UCITS and Open-Ended AIFs

On 24th March, the Malta Financial Services Authority (the “MFSA”) issued its findings and observations identified during the European Securities and Market Authority (“ESMA”) Common Supervisory Action (“CSA”) on Valuation of Undertakings for the Collective Investment in Transferable Securities (“UCITS”) and open-ended Alternative Investment Funds (“AIFs”). In particular, the CSA focused on UCITS and open-ended […]

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Council and Parliament give green light to strengthening energy efficiency rules

The European Parliament and the Council presidency have reached a provisional agreement to reduce final energy consumption at EU level by 11.7% in 2030, exceeding the Commission’s original ‘Fit for 55′ proposal of 9%. It requires EU Member States to collectively ensure an additional reduction of final and primary energy consumption, compared with energy consumption forecasts […]

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Transfer of Business – How changing your service provider could affect you

It is common knowledge that the transfer of an undertaking falling within the definition of the law would automatically trigger the transfer of employees, together with their conditions of employment. The lesser-known implication of transfer of business regulations, however, is that they also apply in the case of a change in the provision of a […]

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Central Bank of Malta publishes Directive No. 6 on New Generation Trans-European Automated Real-Time Gross Settlement Express Transfer System (TARGET)

On the 20th of March 2023, the Central Bank of Malta (the “CBM”) published a new directive in terms of its powers under article 34(5) of the Central Bank of Malta Act (Chapter 204 of the laws of Malta). The new directive (numbered 6) will enter into force with immediate effect, and participants to TARGET-Malta […]

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Covered Bonds Directive transposed into Maltese law

On 17 March 2023, the MFSA issued a circular on the transposition of Directive (EU) 2019/2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision (the “Covered Bonds Directive”).Covered bonds are debt obligations issued by credit institutions, which have specific structural […]

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