Tomorrow, the 31st of January 2023, is the deadline for the transposition by Member States of the EU’s Mobility Directive setting out changes to the current rules regulating cross-border mergers of limited liability companies and introducing rules for cross-border conversions and divisions – with these cross-border conversions, mergers and divisions being collectively referred to in […]
Following the webinar organised by the Malta Financial Services Authority (the “MFSA” or the “Authority”) on 18 January 2023 – whereby the Authority introduced the proposed amendments to chapters 1, 2, 4, 8, 9 and 10 of the Insurance Distribution Rules to the insurance industry – the MFSA has now (26 January 2023) issued a […]
On 16th December 2022, the European Securities and Markets Authority (“ESMA”), the EU’s securities markets regulator issued new and updated Questions and Answers (“Q&A”) on the Alternative Investment Fund Managers Directive (“AIFMD”), the DLT Pilot Regime and the European crowdfunding service providers for Business Regulation.The Q&A mechanism is a practical convergence tool used to promote […]
A political agreement has been reached at EU Council level on the proposed Anti-Money Laundering Regulation (“AMLR”) and the new 6th Anti-Money Laundering Directive (“AMLD6”), and negotiations with the European Parliament for the eventual agreement and adoption of the final version of these texts, should now commence.Some noteworthy, proposed changes include the following:Persons trading in […]
The Government of Malta affirmed its commitment to the sustainability and growth of the local aviation sector through the launch of Malta’s Civil Aviation Policy 2023-2030 (the “Policy”), which was introduced to stakeholders during the National Aviation Conference 2023, held on 18 January 2023. The Policy focuses on five pillars aimed at providing strategic direction […]
On 5 January, 2023, the Corporate Sustainability Reporting Directive (Directive (EU) 2022/2464) (“CSRD”) entered into force, after having been formally adopted by the European Parliament and Council of the European Union in November, 2022, and published in the Official Journal of the European Union on 16 December, 2022.The CSRD seeks to promote a coherent flow […]
Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector (“DORA”) and Directive (EU) 2022/2556 of the European Parliament and of the Council of 14 December 2022 (the “Amending Directive”), came into force yesterday 16 January 2023 and will become applicable on […]
On 20 December 2022, the Financial Intelligence Analysis Unit (FIAU) published a new set of Implementing Procedures – Part II, aimed at accountants and auditors. The guidelines, which will become effective on 1 April 2023, provide additional guidance on AML/CFT obligations arising from the Prevention of Money Laundering Act, the Prevention of the Money Laundering […]
In November 2022, the Financial Intelligence Analysis Unit (“FIAU”) published its Strategy for 2023 – 2026 which sets out, inter alia, its commitment to protecting the Maltese financial system and community from financial crime by combatting Money Laundering and Funding of Terrorism (“ML/FT”), through the generation and dissemination of useful intelligence and the application of […]
Camilleri Preziosi Advocates contribute to the Proskauer Rose and International Employment Lawyer “Guide to Whistleblowing”. The chapter can be downloaded by clicking on the link hereunder.