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ESMA TRV Report on Real Estate Investment Funds Investment Services & Funds

ESMA TRV Report on Real Estate Investment Funds

The current exposure in the EU investment fund sector to the risks in real estate markets has been the subject of a recent publication, dated 10th January 2024, which was issued by the European Securities and Markets Authority (“ESMA”) as part of its ongoing Trends, Risks and Vulnerabilities (“TRV”) risk analysis. The publication, entitled ‘ESMA TRV Report in real estate markets – Risk exposures in EU securities markets and investment funds’ (“TRV report”), provides data which shows that securities linked to real estate are increasingly utilised as collateral. Moreover, ESMA outlines in page three of the TRV report that there…
Mario Mizzi
10th January 2024
Identità Malta Introduces Specialist Employee Initiative and Updates to the Key Employee Initiative Employment and Industrial RelationsImmigration

Identità Malta Introduces Specialist Employee Initiative and Updates to the Key Employee Initiative

Identità Malta, formerly known as Identity Malta, has introduced a new initiative, the Specialist Employee Initiative, aimed at expediting the application process for skilled foreign workers. The initiative promises to process applications within fifteen (15) working days and is an extension of the existing Key Employee Initiative, which fast-tracks applications for highly skilled employees in a managerial or highly technical role within five (5) working days. To qualify for the Specialist Employee Initiative, the following criteria must be met: Minimum gross basic salary of €25,000; The position being offered in Malta is of a professional or technical level; and The…
Julian Fenech Adami
8th January 2024
Benefits of a Maltese Notified Professional Investor Fund Investment Services & Funds

Benefits of a Maltese Notified Professional Investor Fund

In a circular dated the 18th December 2023, the MFSA introduced a framework for an additional fund structure within the jurisdiction of Malta, namely, the Notified Professional Investor Fund (“NPIF”). The NPIF framework is designed to reap the benefits of an enhanced and expedited onboarding process, while concurrently complementing extant fund frameworks in Malta. The initiation of this framework by the MFSA is the outcome of a rigorous and thorough dual-phase process of soliciting public input and consultation earlier in 2023. The rules of the NPIF framework which were launched in December 2023 can be accessed here and the ongoing…
Mamo TCV Advocates
21st December 2023
The Air Navigation Act: Regulation of Aircraft Navigation Over the Maltese Airspace Aviation

The Air Navigation Act: Regulation of Aircraft Navigation Over the Maltese Airspace

On the 1st of August 2023, Bill No. 63 entitled the Air Navigation Act (hereinafter referred to as the “Act”) was published in the Supplement to the Government Gazette. The proposed Act has reached the stage of the Third Reading and shall repeal the Civil Aviation (Air Operators’ Certificates) Act (Chapter 218 of the Laws of Malta), the Air Navigation Order (Subsidiary Legislation 499.09), and the Civil Aviation Subsidiary (Air Transport Licensing) (Fees) Regulations (Subsidiary Legislation 499.33).The primary objective of the proposed Act is to govern aircraft navigation within the Maltese airspace and establish technical compliance standards. The Act applies…
Nicholas Valenzia and Martina Azzopardi
21st December 2023
Employment Agencies Regulations Webinar Webinars

Employment Agencies Regulations Webinar

Are you a recruiter? Do you engage employees to temporarily send them to work at a user undertaking? Do you engage employees to provide contracting services to your clients? As from the 1st April of next year, the Employment Agencies Regulations will come into force, establishing a new regime for these operators, now termed as ‘employment agencies’. The Department of Employment and Industrial Relations will start accepting applications to issue licences as from the 1st January 2024. During this one-hour seminar, we will go through the various licencing requirements, including the requirement of providing a bank guarantee and of engaging…
Mamo TCV Advocates
29th November 2023
The Introduction of the Employment Agencies Regulations of 2023 Employment and Industrial Relations

The Introduction of the Employment Agencies Regulations of 2023

The Employment Agencies Regulations of 2023, which will come into force as from the 1st April 2024, introduce a new regime for regulating the services provided by employment agencies, which were, until now, largely unregulated. These Regulations target employment agencies that provide recruitment services, temporary work services and/or outsourcing services. Certain activities such as recruitment performed by an employer for employment in its own business, recruitment by marketing agents on behalf of any employer whose identity is clearly specified in an advertisement and outsourcing agencies offering professional, technical and surveying services, are excluded from the scope of these Regulations. The…
Christine Calleja and Klara Cachia
24th November 2023