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Regulatory Reporting and Submission of Financial Documentation through the MFSA Licence Holder Portal Legal Updates

Regulatory Reporting and Submission of Financial Documentation through the MFSA Licence Holder Portal

On the 17th October 2019, the MFSA (the "Authority") issued a circular on the submission of regulatory reporting in relation to collective investment schemes, recognised persons and investment services licence holders. As from 31st October 2019 recognised persons and licence holders must submit all regulatory reporting through the Authority's Licence Holder Portal ("LH Portal"). The aim of this development is to facilitate and expedite the process of submission of financial statements and other regulatory reporting to the Authority.Notwithstanding this, hard copies should still be submitted to the Authority in all cases for the time being. Access to the LH Portal…
MamoTCV Advocates
18th October 2019
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Malta Budget 2020 News

Malta Budget 2020

Below are the salient points of the Malta Budget for the year 2020, which was presented to the House of Representatives by the Hon. Prof. Edward Scicluna, Minister of Finance, on 14 October 2019. For a review of the salient points of the Malta budget for the year 2019, please click here.To view and download the report, please click here.Economic Performance Malta registered a surplus – A surplus of 1.4% is forecasted for 2020 and GDP is projected to grow by 4.3%. Government debt has been reduced to 43% of GDP in 2019 and is expected to be further reduced…
MamoTCV Advocates
15th October 2019
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A Brief Overview of the EU Electronic Communications Code Telecoms, Media & Technology

A Brief Overview of the EU Electronic Communications Code

On 17th December 2018, Directive 2018/1972 of the European Parliament and Council establishing the European Electronic Communications Code (the 'EECC') was published and it entered into force on December 20th 2018. This Directive relates mainly to the protection of end-users in the field of telecommunications law and was designed to improve upon the current protection provided to end-users under the present telecommunications framework. Directive 2018/1972 provides for a number of changes to the field of telecommunications law. Some of these changes include, inter alia, that EU Member States are to establish an independent method of comparing similar telecommunications services which are…
Zachary Galea
14th October 2019
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Cookies: ECJ Confirms Illegality of Pre-ticked Boxes Telecoms, Media & Technology

Cookies: ECJ Confirms Illegality of Pre-ticked Boxes

The European Court of Justice ('ECJ') has given its preliminary ruling following a request from the German Federal Court of Justice during a case between the Federation of Consumer Organisations ('the Federation') and Planet49 GMBH ('Planet49'), an online gaming company.  The issue concerned the consent of participants in a promotional lottery being organized by Planet49, to:i)    have their personal data transferred to the Planet49's partners and sponsors;ii)   the storage of their information and;iii)  the access of information stored on the users' terminal equipment (be it laptop, desktop, mobile device etc.).The facts of the case were as follows. In order to participate…
Warren Ciantar
9th October 2019
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New Rules on Secondary Processing of Health Data Come into Force Legal Updates

New Rules on Secondary Processing of Health Data Come into Force

The Minister for Health, following consultation with the Data Protection Commissioner, has enacted regulations, through a Legal Notice, to allow for the secondary processing of health data. Secondary processing includes all those forms of processing that are not linked to the primary purpose (providing a health service) for which the data were collected and thus includes: administrative work, analysis of health records, compiling statistics, compiling evidence in medico-legal cases, investigation of health threats and other research activities. This Legal Notice serves to clarify that such processing of personal data in the health sector would be deemed lawful. The relevant data…
MamoTCV Advocates
9th October 2019
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AI’s Responsibility Gap Telecoms, Media & Technology

AI’s Responsibility Gap

An autonomous vehicle is heading into another vehicle with five people inside. It cannot brake in time. The two options are: to do nothing and allow itself to crash into the vehicle or to divert its trajectory and crash into a wall, almost certainly killing the autonomous vehicle's sole occupant. This is the Artificial Intelligence version of the 'Trolley Problem' - at its core a philosophical/ethical problem tackled from a number of perspectives, not least by a utilitarian approach.This moral question, which was previously a problem which 'merely' troubled the mind, now troubles us in an actual, physical and even…
Michael Camilleri
2nd October 2019