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Malta’s Proposition to the Insurance Sector Insurance & Reinsurance

Malta’s Proposition to the Insurance Sector

​One may well ask, with so much competition, what can Malta offer which distinguishes it from other jurisdictions?During the past years, Malta's economy has flourished into one of the most dynamic economies within the European Union (EU). It has recorded positive and strong economic performance.European Commission Spring 2019 Economic Forecast for Malta estimates real GDP growth for 2018 at 6.6% and unemployment rate at 4%.This robust performance has contributed to Malta being re-affirmed with high credit ratings from rating agencies such as Standard and Poor's, and Fitch and Moody's.In the financial services sphere, Malta has been making a name for…
Romina Bonnici
29th May 2019
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Mamo TCV Advocates Publishes 4th Edition of its free ‘Brief Overview of the GDPR’ NewsTrusts, Foundations and Wealth Management

Mamo TCV Advocates Publishes 4th Edition of its free ‘Brief Overview of the GDPR’

The EU General Data Protection Regulation (GDPR) entered into force across the EU, including Malta, on 25th May 2018. On the first anniversary of this event, we have updated our very popular (and free) brief GDPR overview (now in its 4th edition) with easy-to-read information specific to Malta including the local implementation measures. The document can be downloaded for free from Mamo TCV's dedicated GDPR Microsite which we keep regularly updated. Should you need any guidance on GDPR-related issues, please contact our specialised Data Protection Team at: dataprotection@mamotcv.com .  A Brief Overview of the EU General Data Protection Regulation (GDPR)…
MamoTCV Advocates
24th May 2019
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Mandatory Enrolment or Listing of all Voluntary Organisations in Malta Trusts, Foundations and Wealth Management

Mandatory Enrolment or Listing of all Voluntary Organisations in Malta

This article was written by Dorita Cardona and Joshua ChircopRecent amendments to the Voluntary Organisations Act in Malta have introduced new provisions requiring foundations, trusts, associations and other organisations which qualify as Voluntary Organisations to mandatorily enrol or enlist as Voluntary Organisations with the Commissioner for Voluntary Organisations.The Commissioner has announced that all Voluntary Organisations are required to bring themselves in line with the Act by the 30th June 2019.The Administrators of Voluntary Organisations who fail to enrol or enlist by the deadline shall be guilty of an offence and shall be liable on conviction to a fine of not…
Dorita Cardona
22nd May 2019
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MamoTCV contributes to the 7th Edition of The Insurance and Reinsurance Law Review Legal Updates

MamoTCV contributes to the 7th Edition of The Insurance and Reinsurance Law Review

MamoTCV has contributed to the 7th Edition of The Insurance and Reinsurance Law Review which was published in April 2019. This review has been edited by Peter Rogan (Ince Gordon Dadds LLP) and provides an overview of the legal and regulatory regime for (re)insurance undertakings and intermediaries in 30 jurisdictions.The publication provides guidance on legal and market developments in each jurisdiction aiding comparative analysis. The publication encourages a business-focused approach in comparison to standard legal guides.MamoTCV's contribution to the Malta chapter can be read or downloaded here.Disclaimer This document does not purport to give legal, financial or tax advice. Should…
MamoTCV Advocates
16th May 2019
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Commission accepts commitments offered by Visa and Mastercard on inter-regional interchange fees Antitrust, Competition and Trade

Commission accepts commitments offered by Visa and Mastercard on inter-regional interchange fees

Following the feedback sought by the European Commission (the 'Commission') regarding the commitments offered by Visa and Mastercard further to the Statement of Objections issued by the Commission regarding the competition concerns raised by inter-regional interchange fees ('inter-regional MIFs') for payment transactions, the Commission has accepted the commitments offered by Visa and Mastercard (read more here).These commitments shall be applicable for a period of five years and six months and shall concern inter-regional MIFs applied to payment transactions made using Mastercard, Maestro, Visa, Visa Electron, and V-PAY credit and debit card brands.The accepted commitments and more information about these cases…
Laura Spiteri
10th May 2019
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Maltese Court of Appeal decides that Industrial Tribunal cannot award compensation for the way in which dismissal took place if the dismissal is found to be fair. Legal Updates

Maltese Court of Appeal decides that Industrial Tribunal cannot award compensation for the way in which dismissal took place if the dismissal is found to be fair.

 In the case of Lucianne Lia vs Borg & Aquilina Ltd, the Maltese Industrial Tribunal (the 'Tribunal') had decided that whilst the dismissal had taken place for a justified reason at law, the employer had failed to properly warn the employee prior to said dismissal and for this reason, had awarded the employee the sum of €1,000. The defendant company appealed from this decision arguing that the law only gave power to the Tribunal to give compensation when the dismissal was found to be unfair.The Court of Appeal, in a decision dated 30th April 2019, noted that the employee had…
MamoTCV Advocates
7th May 2019