On the 28th February 2024, the European Council failed to reach an agreement on the final draft of the EU’s proposed Corporate Sustainability Due Diligence Directive (also known as the “CSDDD” or “CS3D”), a stumbling block in the European Union’s efforts to legislate for increased corporate accountability for environmental and social harm brought about by […]
On the 5th of February 2024, the European Council and European Parliament reached a provisional political agreement on a proposal to regulate Environmental, Social and Governance (ESG) rating activities. The provisional agreement follows a Commission Proposal presented in June of 2023, which put forward a proposed regulation designed to promote quality and reliability among ESG […]
The European Union Intellectual Property Office (the “EUIPO”) has implemented ‘The Ideas Powered for Business SME Fund’ (the “Fund”), a European Commission initiative, for the year 2024. Unlike previous initiatives which only covered the reimbursement of administrative fees relating to trademark, design and patent registrations (at both national and EU level), the Fund now also […]
On 23rd January 2024, the Malta Financial Services Authority (“MFSA”) issued a circular addressed to Company Service Providers authorised in Malta (“CSPs”) informing of, inter alia, certain changes which have been made in an effort to streamline and simplify regulatory submissions due in 2024 and beyond. Consolidating Regulatory Submissions The MFSA has updated the Annual […]
The European Union has taken a major step towards strengthening its rules on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). On 18 January 2024, the Council and the Parliament reached a provisional agreement on two main elements of the package:a new regulation (“AMLR”) on AML/CFT that will harmonise rules for all obliged entities; […]
The National Coordinating Committee (“NCC”), in close collaboration with the relevant government authorities involved in the fight against financial crime and representatives from private sector bodies, has issued an updated edition of Malta’s National Risk Assessment 2023 (“NRA”). The NRA represents the latest phase in Malta’s ongoing process to identify and assess vulnerabilities and threats related […]
In recent years, the realm of Financial Crime Compliance (“FCC”) has evolved significantly, creating a more robust framework aimed at safeguarding the integrity of the financial services sector. While the necessity of compliance measures is evident, the associated costs have led to ongoing debates within corporate circles. Many businesses perceive compliance as a burdensome obligation, […]
The highly anticipated framework for Notified Professional Investor Funds (“NPIFs”) has been published by the Malta Financial Services Authority (the “MFSA”). NPIFs will complement the suite of fund products available in Malta and we expect this new regime to be a key tool for fund launches by sub-threshold managers.Similar to Notified AIFs, NPIFs are not […]
The Council of the European Union has recently published the final text of the political agreement reached in relation to the revised Alternative Investment Fund Managers Directive (“AIFMD”), also known as AIFMD II. This update aims to adapt regulatory measures in light of evolving market trends, to bring regulation in line with modern corporate realities […]
Embracing ESG reporting in the Gaming Industry The global growing change of consciousness towards sustainability and the need for companies to integrate Environmental, Social and Governance (ESG) considerations into their business practices, presents a golden opportunity for gaming operators to transform the industry into one that is more transparent and sustainable.The forward-looking and proactive approach […]