Category: News

European Commission issues proposals modernising payment services and opening financial services data

On 28 June 2023, the European Commission (the “Commission”) put forward two legislative proposals aimed with the objective of modernising the payments industry and broader financial sector, ensuring greater levels of consumer protection and fostering competition in electronic payments.The payment services market has evolved greatly in recent years, with the value of electronic payments reaching […]

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EBA highlights Money Laundering Risks associated with Crypto Services and Payment Institutions

The European Banking Authority (“EBA”) has recently unveiled two documents pertaining to the risks of money laundering and terrorist financing associated with crypto-asset service providers and payment institutions.1) Consultation on Amendments to Money Laundering/Terrorist Financing Risk Factors GuidelinesOn 31 May 2023, the EBA released a consultation paper presenting proposed revisions to its guidelines concerning Money […]

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The Malta IT Law Association Annual Conference

On 13 June 2023, Sharon Xuereb and Alexia Valenzia will be participating in the Malta IT Law Association annual conference as panellists on the privacy and digital operational resilience panels respectively. This year, Camilleri Preziosi have sponsored the privacy and data protection panel. The conference, entitled “Navigating the Legal Intersections of Cybersecurity, AI, DORA and […]

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Application of the Foreign Subsidies Regulation to tenders looms

The 12th July 2023 marks the date on which the Foreign Subsidies Regulations (‘FSR’) starts to apply, allowing the Commission to start its ex officio investigations. It has now been confirmed that as of the 12th October 2023 the notification obligations (with respect to public procurement procedures) applicable to contracting authorities and bidders will come […]

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Issuers to note: Update to ESEF reporting postponed to 2024

ESMA decision to postpone ESEF RTS amendment On the 15th of May, 2023, the MFSA published a circular informing the market of the European Securities and Markets Authority (ESMA)’s decision to postpone the amendment of the European Single Electronic Format (ESEF) Regulatory Technical Standards (RTS) until 2024. The reasons for ESMA’s decision to postpone said […]

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