On 25th October 2023, the FIAU issued a Consultation Document on the Implementing Procedures – Part II for Collective Investment Schemes (“CISs”) and related investment service providers (“Investment Services Providers”).The Consultation document outlines the FIAU’s expectations and provides binding guidelines on how CISs and Investments Services Providers should satisfy their obligations under the Prevention of […]
On 4th October 2023, the Malta Financial Services Authority (the “MFSA) published a Guidance Note (the “Guidance Note”) on the Fulfilment of Post-Authorisation Requirements (“PARs”) addressed to all company service providers authorised by the MFSA in terms of the Company Service Providers Act (Chapter 529 of the laws of Malta) (“CSPs”).The MFSA has the power […]
On 10 August 2023, the Malta Financial Services Authority (the “MFSA”) issued a communication to officers of entities that will become subject to the EU’s Commission Proposal on the Retail Investment Strategy Package (the “Package”), and which was published by the European Commission on 24 May 2023.The Package forms part of the 2020 Capital Markets […]
Buzzwords. We use them because it feels like we know what we’re saying, and that people will listen to us more intently when we do. While this may not necessarily be the case when we mention AI in conversation (and how it’s inevitably going to take over the world), what we usually mean to refer […]
Camilleri Preziosi has contributed to the Malta chapter in the 13th Edition of The Corporate Immigration Law Review which is part of The Law Reviews series. Our chapter provides an introduction to the immigration framework in Malta. It also covers residence rights, requirements for work permits sponsored by employers, schemes for investors and entrepreneurs as […]
Earlier this week, Sharon Xuereb attended as an invited panel speaker to the AI and Cyber Security breakfast event held by Times of Malta, MDIA and MITA. More information on the event can be found here: Malta urged to reform education system to ensure AI specialised workforce (timesofmalta.com)
The Financial Intelligence Analysis Unit in Malta (the “FIAU”), via its supervisory section, monitors anti-money laundering and combatting the financing of terrorism (“AML/CFT”) compliance by subject persons in Malta. In so doing, it adopts a risk-based supervisory strategy, which entails adapting the frequency, scope and methods of supervision, according to the degree of risk of […]
On 13 July, 2023, the Malta Financial Services Authority (MFSA) issued a circular regarding the European Securities and Markets Authority (ESMA)’s public statement on its expectations in relation to sustainability-related disclosures to be included in prospectuses drawn up in accordance with the Prospectus Regulation (Regulation (EU) 2017/1129) (“Prospectus Regulation”).ESMA acknowledges that while disclosure requirements relating […]
The article entitled ‘Can the EU Commission’s AML Action Plan Reduce Cross-Border Financial Crime within EU Member States?’ assesses the forthcoming legislative proposals aimed at combatting money laundering and funding of terrorism related financial crimes within the European Union.
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 […]