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Group Insurance policies - recent ECJ Judgment provides for review of the definition of ‘Insurance Intermediary’ in the context of the IDD and IMD.
Group Insurance policies – ECJ Decision Revises the Definitions of ‘Insurance Intermediary’ and ‘Insurance Mediation’ Insurance & Reinsurance

Group Insurance policies – ECJ Decision Revises the Definitions of ‘Insurance Intermediary’ and ‘Insurance Mediation’

In Case C-633/20 of the European Court of Justice (the ‘Court’) delivered on the 29th September 2022, the First Chamber of the Court produced a judgment (the ‘Judgment’) in response to a reference for a preliminary ruling concerning the definition of ‘insurance intermediary’ in the context of Directive 2016/97 (the ‘Insurance Distribution Directive’ or the ‘IDD’) and Directive 2002/92 (the ‘Insurance Mediation Directive’ or the ‘IMD’) and in the circumstances of the referring court’s main proceedings. The request was made in the proceedings between the Bundesverband der Verbraucherzentralen und Verbraucherverbände – Verbraucherzentrale Bundesverband eV (Federal Union of Consumer Organisations and…
Edmond Zammit Laferla and Tessa Borg Bartolo
31st January 2023
Unlock Funding Opportunities for Your SME: EU Renews IP Grant
Unlock Funding Opportunities for Your SME: EU Renews IP Grant Intellectual PropertyNews

Unlock Funding Opportunities for Your SME: EU Renews IP Grant

Following the successful uptake of a similar initiative in 2022, the European Commission has re-launched its fund to support small and medium enterprises (“SMEs”) in safeguarding their intellectual property assets. The scheme, which will run from 23 January 2023 until 8 December 2023, will enable SMEs established in the European Union to recover up to 75% of eligible fees incurred in connection with trademark and design applications, at both EU and national level, up to a maximum of €1,000. This is welcome news, since it is estimated that over 99% of all businesses in the EU are SMEs and is…
Mamo TCV Advocates
31st January 2023
Mamo TCV at Malta Aviation Conference & Expo (MACE)
Malta launches a Civil Aviation Policy for 2023-2030 AviationNews

Malta launches a Civil Aviation Policy for 2023-2030

Dr Nicholas Valenzia, head of the Shipping and Aviation Practice Area at the firm, was invited to speak at the National Aviation Conference which was organised by the Ministry for Transport, Infrastructure and Capital Projects on the 18th of January 2023 at the Phoenicia Hotel in Floriana. Dr Valenzia discussed the aircraft financing and leasing market in Malta and the challenges to enhancing sectorial capacity and improving socio-economic benefits. Dr Valenzia’s address during the Conference can be seen in the video below. During the Conference, the Ministry for Transport, Infrastructure and Capital Projects launched A Civil Aviation Policy for Malta…
Mamo TCV Advocates
26th January 2023
Regulatory Compliance Quarterly Update | Q4 2022 Banking & FinanceInsurance & ReinsuranceInvestment Services & FundsNews and PublicationsRegulatory Compliance

Regulatory Compliance Quarterly Update | Q4 2022

We are pleased to issue our third edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to Investment Services and Asset Management; Credit and Financial Institutions; Company Service Providers and Insurance Undertakings and Insurance Intermediaries. Our Regulatory Compliance Quarterly Update can be found here. Our third Regulatory Compliance Quarterly Update can be found hereThe Regulatory Compliance Quarterly Update does not purport to give legal, regulatory,financial…
Mamo TCV Advocates
25th January 2023
Civil Court (Commercial Section) on whether a #retrial of #liquidationproceedings is possible
No Retrial Possible from a Liquidation Order Litigation & Dispute Resolution

No Retrial Possible from a Liquidation Order

In a landmark decision delivered on the 11th January 2023, in the names ‘Av. Jonathan Abela Fiorentino noe vs Eolia Limited’ (case no. 68/2022 ISB), the Civil Court (Commercial Section) rejected the application filed by defendant company demanding the Court to order a retrial of the liquidation proceedings that led to the company being placed into liquidation. This decision constitutes the first occasion on which the Court pronounced itself on this specific legal matter, since the issue was previously untested. By means of a liquidation order issued by the same court on 11th March 2022, the Court placed the defendant…
Jonathan Abela Fiorentino
24th January 2023
MFSA issues a Consultation Document on the Proposed Notified PIF Framework
MFSA issues a Consultation Document on the Proposed Notified PIF Framework Investment Services & Funds

MFSA issues a Consultation Document on the Proposed Notified PIF Framework

On 22 December 2022, the Malta Financial Services Authority (‘MFSA’ or ‘the Authority’) issued a stakeholder consultation on the proposed establishment of a new framework for Notified Professional Investor Funds (‘NPIFs’). The NPIF framework proposal seeks to introduce a new fund structure, complementing the existing fund frameworks in Malta. The framework will bring about lower barriers to entry for professional investor funds through a risk-based and proportionate approach. On 28 October 2021, the MFSA issued a Discussion Paper on its Asset Management Strategy. The introduction of a NPIF regime was one of the proposals set out in Pillar III –…
Martha Chetcuti
20th January 2023