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Reminder: Existing CSPs to abide by new CSP Rules and Requirements by September 2021

On the 2nd July 2021, the MFSA issued a circular containing important information particularly addressed to Company Service Providers (CSP’s) who were already registered as CSP’s prior to the amendments effected by Act L of 2020 which came into force on 16 March 2021. A transitory period of 6 months from the 16 March 2021…

Commission puts forward new strategy for Sustainable Finance

On 8 July 2021, the MFSA issued a Circular regarding a number of measures adopted by the European Commission on Sustainable Finance on 6 July 2021. The measures adopted highlight the ever-increasing level of ambition with respect to sustainable finance and include: 1.The new Sustainable Finance Strategy for a more sustainable EU financial system. This…

FATF lists three key issues Malta should address following its grey listing

Having placed Malta under increased monitoring on the 23 June 2021, the Financial Action Task Force (FATF) has published three key issues Malta must address in order for it to be removed from the list. Whilst, the FATF noted that Malta has made progress on a number of recommended actions to improve its systems in…

MFSA to re-issue Investment Services Licence Certificates

Following the recent publication of the new Investment Firms Regulation and Investment Firms Directive (the ‘IFRD Package’), the MFSA shall be re-issuing the Licence Certificates of Maltese licence holders to reflect the licence classification system revised in terms of the IFRD Package. The new licences will be categorised as Class 1, Class 1 minus, Class…

New MFSA NAIF Rulebook Improves Efficiency of Malta Funds’ Regime.

The Malta Financial Services Authority (‘MFSA’) has published a new rulebook dedicated to Notified Alternative Investment Funds (‘NAIFs’) with effect from the 24th June 2021. In terms of the new rules, the MFSA has made a number of key changes to further enhance the effectiveness of the structure, in particular: Shorter processing timeframes. The MFSA…

EU Sustainable Finance: What’s Next?

In March 2018, the European Commission adopted an action plan setting out a comprehensive strategy to further connect finance with sustainability. Several manufacturers and distributors of financial products (including investment firms, insurance undertakings, banks and manufacturers of funds and pension schemes) have accordingly become subject to new or revised obligations in relation to sustainable finance….

Malta passes MONEYVAL test

The Council of Europe’s Committee of Experts on the Evaluation of Anti-ML/FT (MONEYVAL) has issued a follow-up report on Malta’s progress to its AML/CFT safeguards. The report received a favourable vote from MONEYVAL during a Plenary Session held on the 29th April 2021, and concludes that Malta has achieved ‘largely compliant’ and ‘compliant’ ratings across…

CSP Reform Deadline Coming Up

The industry is reminded that the deadline for applicants for authorisations under the updated Company Services Providers regime will lapse on the 16th May 2021. Persons who fail to apply for the necessary authorisation and do not cease their CSP activity by this Sunday 16th May would be in breach of applicable law and unable…

DF Advocates ranks in both Legal 500 and Chambers publications 2021

We are delighted to announce that DF Advocates has been recognised as one of the top firms in Malta for a number of practice areas in both Legal 500 EMEA and Chambers and Partners publications. In Legal 500, an independent guide which commends individuals and firms purely on merit, DF Advocates has been recognised with…

Malta: Mergers & Acquisition Laws and Regulations 2021

ICLG have recently published the 15th Edition of ‘Mergers & Acquisitions’ legal guide for the year of 2021, providing insight into the legal of aspects of mergers and acquisitions in different jurisdictions. Dr Maria Deguara and Dr Celia Mifsud were privileged with the task of writing up a chapter on Malta’s system of mergers and…