Malta Legal Articles
Law related articles writen by lawyers
and experts witnesses practicing in Malta
January 26, 2015 By CSB Advocates
Through Legal Notice 22 of 2015, the individuals who are qualified to own Maltese vessels, have also been extended to include citizens of the European Economic Area and of Switzerland, while prior to this amendment this was limited only to citizens of the European Union.
January 21, 2015 By CSB Advocates
Malta continues to receive glowing reviews internationally as a stable financial services centre of repute within the European Union.
January 19, 2015 By CSB Advocates
On the 22nd of December, 2014 the MFSA commenced a consultation process on proposed amendments to the Insurance Business Act (Cap. 403 of the Laws of Malta) and the Insurance Intermediaries Act (Cap. 487 of the Laws of Malta).
January 13, 2015 By CSB Advocates
Forbes/International Living has announced that Malta has featured sixth in the index of the best places to retire for Americans.
December 5, 2014 By CSB Advocates
Securitisation transactions in Malta, that is the raising of capital through the transfer of assets and risk from the transferee (“Originator”) to special purpose vehicles (“SPVs”) and converting the same into financial instruments issued by the latter, are regulated by the Securitisation Act (Chapter 484 of the Laws of Malta) (“Act”).
December 4, 2014 By CSB Advocates
The European Securities and Markets Authority (ESMA) has recently published a consultation paper on the asset segregation requirements under the Alternative Investment Fund Managers Directive (AIFMD).
November 25, 2014 By CSB Advocates
In light of the launch of a regulatory structure for private pensions forwarded by the MFSA the Minister for Finance Prof. Edward Scicluna recently launched the Third Pillar pension scheme, also referred to as the Personal Retirement Scheme which is accompanied by another scheme called the Individual Savings Account.
November 24, 2014 By CSB Advocates
The MFSA is currently amending its legislative and regulatory framework in order to make Malta an efficient jurisdiction for structuring private equity funds.
October 29, 2014 By CSB Advocates
European Union privacy regulators have been urging Google to refine its privacy policies for quite some time.
October 26, 2014 By CSB Advocates
The European Central Bank (ECB) has published the results of the stress-test that it has conducted over the past year in respect of the 130 largest banks in the euro area, considering their financial position as at the 31st December 2013.
October 22, 2014 By CSB Advocates
The MFSA recently circulated a notice outlining additional criteria with respect to the licensing of entities that would like to offer online forex trading to retail clients in terms of the Investment Services Act, Chapter 370 of the Laws of Malta.
October 9, 2014 By CSB Advocates
The MFSA recently published a set of documents formalising the implementation of the National Private Placement Regime (‘NPPR’) in Malta.
MFSA Thematic Review on Compliance with the Requirements on Governance, Compliance & Risk Management in Malta
October 5, 2014 By CSB Advocates
The MFSA recently published a circular addressed to the compliance officers of investment services license holders with consolidated feedback from the Securities and Markets Supervision Unit.
Malta Financial Services Authority Issues a Consultation Document on the Proposals for Securitisation Cell Companies Regulations
September 11, 2014 By CSB Advocates
Cell companies have been an established feature of Maltese legislation since 2004, following the enactment of the Companies Act (Cell Companies carrying on business of insurance) Regulations, 2004 (the “PCC Regulations”). Since then the cell company concept in Malta has not only taken root among market operators and practitioners but has also influenced the development of other legal frameworks in the insurance and funds sector.
September 1, 2014 By CSB Advocates
An amendment to our laws, now makes it illegal for employers to discriminate against transgender individuals, on grounds of sex. Prior to August 2014, the law only made reference to sexual orientation, without specific reference to those who underwent gender reassignment.
August 28, 2014 By CSB Advocates
The Authority for Transport in Malta plans to issue a request for proposals for the development and operation of an all-weather marina with up to 240 berths and shore facilities at Sa Maison in Pietà.
August 18, 2014 By CSB Advocates
Legal Notice 269 of 2014 has amended the Malta Retirement Programme Rules which were originally promulgated in 2012.
August 13, 2014 By CSB Advocates
By virtue of two legal notices published on the 8th of July, the High Net Worth Individuals Rules (HNWI Rules) have now been amended to reflect the Global Residence Programme threshold, both in terms of tax and property value (be it purchase or lease), and a new special tax status is presented.
August 4, 2014 By CSB Advocates
When purchasing a product in terms of the Maltese Consumer Affairs Act, consumers have clear-cut legal rights. The warranty provided by the supplier or the manufacturer cannot curtail or negatively affect the consumer’s rights.
July 30, 2014 By CSB Advocates
According to a Parliamentary answer by the Maltese Employment Minister Evarist Bartolo, a total of 10,035 EU nationals were working in Malta as at end of December 2013.
July 17, 2014 By CSB Advocates
The EU Data Retention Directive (2006/24/EC) was introduced into EU legislation during the aftermath of the terrorist attacks in Madrid, London and New York, and provided that communications firms should keep data about subscribers’ activities for a period of between 6 and 24 months.
July 17, 2014 By CSB Advocates
When the AIFMD was adopted, no harmonised definition of “closed-ended” Alternative Investment Funds (“AIFs”) was provided within the Directive’s text.
July 15, 2014 By CSB Advocates
Following the signature of the intergovernmental agreement (“IGA”) between Malta and the US on the 16th December, 2013 whereby the latter agreed to implement Foreign Account Tax Compliance provisions (commonly known as FATCA) in Malta, the Inland Revenue Department (“IRD”) has issued draft FATCA Regulations and Guidelines implementing the said intergovernmental agreement.
July 15, 2014 By CSB Advocates
The European Banking Authority (EBA) published on the 4th of July 2014 an Opinion addressed to the EU Council, European Commission and European Parliament setting out the requirements that would be needed to regulate ‘virtual currencies'.
July 7, 2014 By CSB Advocates
On Friday the 4th of July the European Banking Authority (EBA) published an opinion addressed to the EU Council, European Commission and European Parliament outlining its view on how ‘virtual currencies' should be regulated.
July 6, 2014 By CSB Advocates
The UCITS V Directive shall shortly be published in the Official Journal of the European Union later on this year.
June 17, 2014 By CSB Advocates
Spurred by various enquiries on the matter, the MFSA has last week launched the Investment Services Rules for Loan Funds (the “Rules”) which provide for the licensing and regulation of collective investment schemes investing through loans (“Loan Funds”). This paper will analyse the Rules and how these fit into the current Maltese fund legislation.
June 16, 2014 By CSB Advocates
The form for the submission for tax purposes of part-time, self-employed individuals has been amended by virtue of Legal Notice 186 of 2014 [Part-Time (Forms of Self-Employed) (Amendment) Rules, 2014], therefore replacing the previous form in toto.
June 12, 2014 By CSB Advocates
Verizon, the US telecommunications giant, has issued Netflix with a “cease and desist” letter following media reports claiming that Netflix was blatantly telling its customers that the Verizon network was responsible for faulty streaming.
Moneyval's Statement Calling for Enhanced Due Diligence Measures for Bosnia and Herzegovina Transactions
June 12, 2014 By CSB Advocates
On 1st June 2014, the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) issued a public statement about the persistence of deficiencies in the anti-money laundering and counter financing of terrorism (AML/CFT) regime in Bosnia and Herzegovina.
June 9, 2014 By Mamo TCV Advocates
The Maltese Government has introduced the Individual Investor Programme to enable the state to grant citizenship, by way of a certificate of naturalization, to foreign individuals and families who contribute to the economic development of Malta.
June 2, 2014 By CSB Advocates
The liability of financial supervisory authorities and deposit-guarantee schemes. However, it has proved not to be sufficient: bank failures still do happen, causing serious negative consequences not only on depositors’ personal level – they become unable to recover their savings – but also on a general level, since the solidity of the financial sector will appear undermined. With a view to limit such risks, deposit-guarantee schemes have been created and are being constantly improved.
May 27, 2014 By CSB Advocates
Last month Judge Padovani Grima ordered the Ladybug Corporation to pay the 22 crew members, the sum of €205,694, in lieu of salaries and repatriation expenses, after that the owners had stopped communication with the International Transport Workers’ Federation, refused to take calls and had abandoned the crew and vessel.
May 27, 2014 By CSB Advocates
On the 13th May 2014 the Norwegian Consumer Council lodged a complaint against Apple with Norway’s Consumer Ombudsman. According to the complaint, Apple’s iCloud service violates European consumer law by allowing Apple to change its terms and conditions at any time without giving notice to its customers.
May 26, 2014 By CSB Advocates
ESMA, the European Securities and Markets Authority issued consultation documents for the implementation of the revised Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) on 22nd May 2014.
May 21, 2014 By CSB Advocates
The US Court of Appeals ruled last Monday the 12th of May that software source code can qualify for copyright protection in certain circumstances.
May 20, 2014 By CSB Advocates
Google has certainly had some experience dealing with take-down requests in the past – primarily dealing with copyright infringing content – but nothing was to prepare it for the overwhelming influx of requests it reportedly received following the ECJ ruling on the subject last week.
May 7, 2014 By CSB Advocates
Last week a district judge in New York ruled that US authorities can access and search through electronic data stored by US companies on servers based outside the US.
On the 23rd of April 2014, the European Parliament adopted updated rules for MiFID II. The Directive and the Regulation are expected to enter into force in June 2014.
On the 25 February 2014 an agreement was reached for the amendment of the UCITS Directive (2009/65/EC). UCITS V has been designed to enhance investor confidence and protection by introducing additional safeguards:
Subject to certain conditions, a sub-fund of a PIF or of an AIF which is constituted as a SICAV is allowed to invest up to 50% of its assets into another sub-fund or sub-funds within the same umbrella scheme.
The Malta Individual Investor Programme (IIP) is to allow for the grant of citizenship by a certificate of naturalization to foreign individuals and their families who contribute to the economic development of Malta.
On the 24th December 2013, Chapter 529 of the Laws of Malta was promulgated, comprising the new Company Service Providers Act. This Act aims to regulate corporate services providers with a view to strengthen the industry’s arsenal against abuse of the financial system for the purposes of money laundering and terrorist financing.
April 3, 2014 By CSB Advocates
The concept of ‘net neutrality’, or of ‘open internet’, refers to the notion that internet service providers and governments should treat all data on the Internet equally. Advocates of this concept envisage an internet where people can use their internet connection from anywhere and for anything with no additional charges and/or restrictions.
March 26, 2014 By CSB Advocates
The world renowned manufacturer of Greek Yoghurt, FAGE, has recently won an ‘extended passing-off’ case against Chobani UK Limited and Chobani, Inc in the United Kingdom. Interestingly, an extended passing-off claim, unlike a classic passing-off claim, may be brought by one or more members of a class of traders which share the collective goodwill in a mark.
March 13, 2014 By CSB Advocates
Last month the European Court ruled that websites can link to freely available content without the permission of the copyright holder.
February 28, 2014 By CSB Advocates
The strengthening of data protection laws in Europe has been a pet cause for German Chancellor, Angela Merkel, for some time now. In July 2013, Merkel was strongly backed by the European commission in her call for tougher data protection laws, particularly in the ICT sector.
February 27, 2014 By CSB Advocates
On 21st February 2014, the MFSA issued a Notice to Financial Services Licence Holders informing them on the Financial Action Task Force (FATF) identifying jurisdictions with strategic deficiencies, as outlined in the recent publication of two public documents. These countries are considered to have strategic deficiencies regarding anti-money laundering& and combating the financing of terrorism (AML/CFT).
February 19, 2014 By CSB Advocates
In Europe, online sales are set to reach 191 billion Euro by the year 2017. Faced with these numbers, businesses simply cannot afford to pass up the opportunities presented to them by online channels. Neither can they afford to remain in the dark about developments in the e-commerce regulatory sector. The ever-changing landscape of the world market necessitates a fast reaction time and a keen adaptability for businesses to remain relevant.
February 13, 2014 By CSB Advocates
Legal Notice 16 of 2014, has brought into effect amendments to the Highly Qualified Persons Rules, applicable retrospectively from year of assessment 2013.