On Wednesday 13 March 2024, MEPs of the European Parliament overwhelmingly approved the EU’s Artificial Intelligence Regulation. Even though the regulation is still required to pass through the last few final hurdles, the European Parliament’s approval signifies that the EU is ready to comprehensively regulate AI in the very near future.The AI Act is a […]
Partner Marisa Vella who heads the Dispute Resolution practice, whilst being assisted by partner Kristina Rapa Manche’ has once again been highly ranked by Chambers and Partners 2024 Guide.We are leaders in the dispute resolution market and are continuously recognised as top performers in this field. Our clients’ recognition has enabled the team to maintain […]
Once again, Camilleri Preziosi has earned distinguished recognition in the Chambers and Partners Global Guide 2024. The firm has maintained its band 1 ranking, the highest accolade, affirming its leading position in the General Business Law Category, as well as in the Corporate/Commercial and Financial Services Categories.Individually, all partners have garnered high commendation, with four […]
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, […]