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The European Union has decided to revise and adapt its company law rules in a bid to ensure that such regulations remain adequate for the modern digital age. The Romanian presidency of the Council has reached a provisional agreement with representatives of the European Parliament on a draft directive that aims to ease and encourage…
READ MORE +The Superior Courts of Appeal in Malta composed of, Chief Judge Joseph Azzopardi, Judge Giannino Caruana Demajo and Judge Noel Cuschieri, delivered a groundbreaking judgment in the case of Dr Marlon Borg noe v. MV Bright Star, which judgment has set an unprecedented bar in the international shipping industry, particularly in light of the fact…
READ MORE +The MFSA has launched Vision 2021, a three year government-supported transformation and reform programme aiming to preserve the integrity and stability of the markets within Malta’s financial sector. The three-year strategy encompasses MFSA’s vision with regards to risk management, conduct, enforcement and anti-money laundering/counter-financing of terrorism supervision. The consultation document delineating MFSA’s FinTech strategy and…
READ MORE +By virtue of article 7(2) of the Gaming Act, the Malta Gaming Authority has released two directives; a De Minimis Games Directive and a Gaming Premises Directive. The directives are applicable as from 1st February 2019. De Minimis Games Directive In terms of article 1(d) of the Gaming Authorisations Regulations, the MGA has released a…
READ MORE +As a result of differing national securities and insolvency laws, the European AIF and UCITS regimes have experienced a divergence in the level of protection for financial instruments held in custody for Alternative Investment Funds and UCITS. This has brought about the requirement for the adoption and eventual implementation of the amendments to Delegated Regulations…
READ MORE +ESMA has published its Advice aimed at the European Union Institutions on initial coin offerings and crypto-assets. The Advice aims at clarifying the existing EU rules applicable to crypto-assets which qualify as financial instruments whilst providing ESMA’s position on matters which require consideration by EU policymakers with regard to the current EU financial regulatory framework….
READ MORE +Very recently, on the 1st of January 2019, the MGA introduced the first phase of its Sandbox Framework for the acceptance of VFA and the use of DLT within the Gaming Sector. This phase is expected to go on for 10 months with a possible extension period should this be considered appropriate by the MGA….
READ MORE +DF Advocates have recently participated in the Fintech Forum organized by law firm Ramos Ripoll & Schuster (Mexico City) and Sérvulo Associados (Lisbon) on the fringe of the semi-annual General Meeting of Legalink Global Network of Independent Law Firms in Mexico City (Mexico) held between the 7 and 10 November. Focusing on the regulation of…
READ MORE +On the 16th November 2018, the MFSA issued a Consultation Document to the public, highlighting further amendments to be made to the Pension Rules for Retirement Schemes following feedback from the pensions market. The additional amendments being proposed by the MFSA include amendments to the following: The form of Member-Directed Schemes The Introduction of the…
READ MORE +The MFSA has recently revised Part B1 of the Investment Services Rules for Investment Services Providers applicable to MiFID Firms (the ‘Rules’). The revision of the Rules includes new definitions, and an enhancement in the clarity of existing definitions. The MFSA has also introduced the requirement for investment firms to undertake ongoing due diligence checks,…
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