Skip to main content

Insights

News_ins.png
MFSA Issues Note for Information on the General Good Provisions Applicable to European Insurance Undertakings Passporting in Malta Insurance & Reinsurance

MFSA Issues Note for Information on the General Good Provisions Applicable to European Insurance Undertakings Passporting in Malta

Following the application of the Conduct of Business Rulebook to the insurance sector on the 1st October 2018, there was a lacuna in terms of the rules which European insurance undertakings are required to observe when carrying on cross-border business in Malta on a freedom of services basis. To address this lacuna, on the 16th April 2019, MFSA issued amendments to Chapter 9 of the Insurance Rules on Freedom of Establishment and Freedom to provide Services by a European Insurance Undertaking and a European Reinsurance Undertaking. These amendments identify the rules (also referred to as the general good provisions) in…
Romina Bonnici
22nd April 2019
News_FBK.png
European Commission Issues Public Consultation on the Vertical Block Exemption Regulation Antitrust, Competition and Trade

European Commission Issues Public Consultation on the Vertical Block Exemption Regulation

The European Commission has issued a public consultation to allow interested parties to provide their feedback with regard to competition issues that arise in vertical relationships. The public consultation period opened on the 4 February 2019 and shall continue to run until the 27 May 2019. This public consultation process follows an 'Evaluation and Fitness Check Roadmap' that was carried out from November to December 2018.1 The Block Exemption Regulation (the 'Regulation'),2 which entered into force in 2010 and shall continue to run until 2022, deals with a category of vertical agreements which the European Commission regards as normally satisfying…
Laura Spiteri
12th April 2019
News_QA.png
Equity Release Scheme Legal Updates

Equity Release Scheme

On Friday, 5 April 2019, the MFSA issued a set of questions and answers ('Q&As') about the Home Equity Release product announced earlier on by the Ministry of Finance.These Q&As are intended to provide the consumers with information to enable them to make an informed decision when they are considering taking up this product.The Regulations about the equity release product will come into force on the 1st September 2019, following which, credit institutions and financial institutions need to be authorised, to be able to offer such product.The Q&As may be accessed on: https://www.mfsa.com.mt/wp-content/uploads/2019/04/Equity-Release-PR.pdf Disclaimer This document does not purport to…
MamoTCV Advocates
8th April 2019
News_CHS.png
Cartel Leniency and Non-Cartel Cooperation Tool Taken Online Antitrust, Competition and Trade

Cartel Leniency and Non-Cartel Cooperation Tool Taken Online

On the 19 March 2019, the European Commission (the 'Commission') took its leniency proceedings online by launching "eLeniency".  With this new tool, companies can submit any documents relevant to leniency proceedings, as well as non-cartel cooperation cases, online.Leniency in the case of cartel proceedings is defined as the "granting of immunity from penalties or the reduction of penalties for antitrust violations in exchange for cooperation with the antitrust enforcement authorities". It is a process by which the Commission encourages a company which is aware of cartel behaviour on the market to come forward and share the information it holds, i.e.…
Laura Spiteri
6th April 2019
News_SEE.png
Mamo TCV Delivers GDPR talk at Society Education Event Telecoms, Media & Technology

Mamo TCV Delivers GDPR talk at Society Education Event

At the invitation of Society Education, on 21st March 2019 Mamo TCV Advocates delivered a talk regarding the General Data Protection Regulation ('GDPR'). The event took place at 'the Landmark' in Qormi, Malta. On behalf of Mamo TCV Advocates, Dr Claude Micallef-Grimaud and Dr Warren Ciantar delivered their three-hour presentation titled: 'The General Data Protection Regulation (GDPR): An Overview of its Most Salient Aspects'. The presentation was split into two parts, with the first examining certain key features of the GDPR including the legal grounds for processing personal data, the new fines that may be imposed, new information requirements to…
MamoTCV Advocates
31st March 2019
News_BrexitFlag2.png
MFSA issues Circular on a proposed Temporary Permission Regime (‘TPR’) for UK Investment Funds, Asset Managers and Investment Firms passporting into Malta in relation to a No-Deal Brexit Scenario Legal Updates

MFSA issues Circular on a proposed Temporary Permission Regime (‘TPR’) for UK Investment Funds, Asset Managers and Investment Firms passporting into Malta in relation to a No-Deal Brexit Scenario

With a no-deal Brexit scenario looming, the Malta Financial Services Authority ('MFSA') has issued a circular which provides a well-needed update to investment funds, investment firms and asset managers licenced in the UK (collectively referred to as "UK entities") passporting into Malta. The intention of the MFSA is to grant temporary permission to UK entities that already passport their services and activities into Malta. Therefore, only existing clients/contracts would be able to benefit from the Temporary Permission Regime (the "TPR"), and such regime will only apply if the UK leaves the European Union without a deal by the relevant date.…
MamoTCV Advocates
29th March 2019