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 […]
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 […]
Camilleri Preziosi has contributed the Malta chapter to The Law Review – The Government Procurement Review, 11th Edition. You can view the full chapter here.
Camilleri Preziosi has contributed the Malta chapter to Global Legal Insights – AI, Machine Learning and Big Data 2023. You can view the full chapter here.
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 […]
To mark five years following the coming into force of the General Data Protection Regulation, a group of privacy experts shaped the new Malta Institute of Privacy Law (MIPL). The aim of MIPL is to act as a point of reference in discussions with public authorities relating to the formulation and interpretation of legislation, sectorial […]
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 […]