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Rejected!
European Commission Rejects Draft Regulatory Technical Standards on ICT Subcontracting DORATelecoms, Media & Technology

European Commission Rejects Draft Regulatory Technical Standards on ICT Subcontracting

The European Commission has communicated its rejection of the draft Regulatory Technical Standards (RTS) on subcontracting ICT services supporting critical or important functions supplementing the Digital Operational Resilience Act (DORA).  In its communication, the Commission held that the European Supervisory Authorities (ESAs) exceeded their mandate under Article 30(5) of DORA (which came into effect on 17 January 2025) by introducing requirements not specifically linked to the conditions for subcontracting in Article 5 of the RTS. The Commission has made it clear that Article 5 and the related recital 5 of the draft RTS must be omitted from the draft RTS…
Mamo TCV Advocates
31st January 2025
EU AI Act
EU AI Act: Banned AI Practices from 2 February 2025 Telecoms, Media & Technology

EU AI Act: Banned AI Practices from 2 February 2025

The EU AI Act becomes applicable across the EU, including Malta, on 2 August, 2026 (you may read our general overview here). However, the AI Act’s general provisions and the provisions on prohibited AI practices that present an unacceptable level of risk, will come into force as early as 2 February 2025. With this deadline fast approaching, organisations subject to the AI Act must ensure compliance accordingly. AI Literacy By 2 February 2025, providers and deployers of AI systems, including those based in Malta, must take steps to guarantee an adequate level of AI literacy among their staff and any…
Nicole Bonett and Claude Micallef Grimaud
31st January 2025
Triangular Patterns
MFSA Issues Two Circulars on ICT Risk DORAFinTechTelecoms, Media & Technology

MFSA Issues Two Circulars on ICT Risk

On the 16th of January 2025, the MFSA published a circular on the register of information-reporting-timelines for MFSA-authorised persons. Subsequently, on the 17th of January 2025, the MFSA published another circular outlining several resources uploaded to its website to assist compliance with Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector (“DORA”). The circular issued on 16th of January 2025 focuses on the Register of Information required under Article 28(3) of DORA. This register mandates financial entities to document all contractual arrangements with ICT Third-Party Service Providers (“ICT TPPs”), ensuring transparency in…
Mamo TCV Advocates
20th January 2025
St James Cavalier Web Dome
DORA is Now in Force: What’s Next? DORAFinTechTelecoms, Media & Technology

DORA is Now in Force: What’s Next?

Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector (“DORA” or the “Act”) became enforceable as of 17th January 2025. DORA Resources As highlighted in various DORA insights by our Firm over the last few months (including a very useful overview of DORA itself), DORA represents a significant milestone in aligning the financial services sector with the EU’s digital finance strategy, offering a regulatory framework for operational resilience and ICT risk management. Designed to bolster operational resilience against increasingly sophisticated cyber threats, DORA ushers in a new era…
Mario Mizzi and Warren Ciantar
17th January 2025
European Blockchain Sandbox
European Blockchain Sandbox & MDIA Joint Webinar FinTechNewsTelecoms, Media & Technology

European Blockchain Sandbox & MDIA Joint Webinar

As previously announced, applications for the third and final cohort of the European Blockchain Sandbox are now open. To find out more on how you can take advantage of this unique scheme, register here to attend this joint webinar being organised by the European Blockchain Sandbox and the Malta Digital Innovation Authority (MDIA) on January 20th at 14:30. The webinar is expected to last around an hour.
Mamo TCV Advocates
15th January 2025
AI Act’s Impact on Businesses Operating Within the EU
The AI Act’s Impact on Businesses Operating Within the EU Telecoms, Media & Technology

The AI Act’s Impact on Businesses Operating Within the EU

This article is part of our EU AI Act series which explores the effect of the AI Act across various industries and sectors. Introduction The first article (see link below) in this EU AI Act series provided, inter alia, a breakdown of the scope, applicability, timeline and risk levels of the AI Act, Regulation (EU) 2024/1689 (hereinafter referred to as the “Act”). The Act introduces significant obligations for all businesses developing or deploying AI that affect persons in the EU, with major fines for non-compliance. Crucially, the Act is extraterritorial in nature, since it also applies to businesses established in…
Andrea Theuma, Tessa Borg Bartolo and Sofia Said Salomone
17th October 2024