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Instagram fined €405M for violating GDPR regulations

Last week, the Irish Data Protection Commission fined Instagram owner Meta 405 million euros for breaching the privacy rights of children under the EU General Data Protection Regulation (“GDPR”). The investigation which had started back in 2020, focused on how the platform allowed users aged between 13 to 17 years to operate accounts which showed…

New Amendments to the Commercialisation of Sports Facilities Regulations

On the 29th of July 2022, a new legal notice entered into force which brings about certain important changes to the Commercialisation of Sports Facilities Regulations (the “Regulations”). The Regulations, which came into force in 2017, created a legal framework that enables sports organisations to operate commercial activities on their premises. The new amendments seek…

MFSA launches Corporate Governance Code for Authorised Entities

The MFSA has issued a Corporate Governance Code for authorised entities following a consultation process which commenced in 2020. The Code brings forth a list of guiding principles applicable to all unlisted entities authorised by the MFSA, thus excluding natural persons. The Code aims to enhance the legal, institutional and regulatory framework for good governance…

ESMA Publishes Peer Review Report on the Scrutiny and Approval Procedures of Prospectuses by Competent Authorities

As mandated in terms of Article 20(13) of the Prospectus Regulation (the ‘Regulation’), on the 21 July 2022, ESMA published its peer review of the scrutiny and approval procedures of Competent Authorities in terms of the Regulation. Whilst ESMA gave the MFSA – qua National Competent Authority in terms of the Regulation – in terms…

MFSA Publishes Circular on Guidelines to Apply for Permission to Operate a DLT Market Infrastructure

The MFSA has, today, published a Circular informing market participants on a consultation process initiated by ESMA on the application process for permission to operate a Distributed Ledger Technology (‘DLT’) based market infrastructure. Following the publication of Regulation (EU) 858/2022 on a pilot regime for DLT-based market infrastructures, ESMA has issued a Consultation Paper on…

PEPP Regulation: New Legal Notice and MFSA Consultation Document

Regulation (EU) 2019/1238 (the PEPP Regulation) came into force on the 22nd March 2022, and regulates the setting up and distribution of pan-European Personal Products. These products aim to target the younger generation and mobile workers and to help facilitate further the right of European Union citizens to live and work across the European Union….

SFDR: European Commission adopts disclosure rules on sustainable investments

The European Commission has adopted a Delegated Regulation with regulatory technical standards (RTSs) to be used by financial market participants and financial advisors when disclosing sustainability-related information under the Sustainable Finance Disclosures Regulation (SFDR). The Delegated Regulation specifies the exact content, methodology and presentation of the information to be disclosed, thereby improving its quality and…

The CJEU confirmed the application of the Private Copying Exception to the Cloud

The Court of Justice of the European Union has recently pronounced itself, on the application of the private copying exception with respect to unauthorised reproductions of copyright protected works which are stored through cloud computing and storage services. In the Case C-433/20, the Viennese Higher Regional Court referred a preliminary ruling to the Court of…

SMEs may apply for a maximum reimbursement of €1,500 for trademark fees

The European Commission has launched a grant scheme designed to help SMEs based in the EU to register their intellectual property rights. This scheme, referred to as the Ideas Powered for business SME Fund is being implemented by the European Union Intellectual Property Office and will run until the 16th of December 2022. Through this…

Have You Had Land Expropriated But Never Got Compensated? Your Deadline to Claim Compensation May Be Looming

A brief overview of Expropriation Legislation Expropriation in simple terms is the mechanism by which the Government acquires private property for the benefit of the public, often against the wishes of the owner. Five years ago, on the 25th of April, the Government Lands Act came into force by way of ACT XVII of 2017 which…