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EIOPA issues Recommendations for the insurance sector in light of the UK withdrawing from the EU without a withdrawal agreement. Legal Updates

EIOPA issues Recommendations for the insurance sector in light of the UK withdrawing from the EU without a withdrawal agreement.

On the 19 February, the European Insurance and Occupational Pensions Authority (EIOPA) issued Recommendations addressed to the National Competent Authorities (NCAs) providing guidance on the treatment of UK insurance undertakings and distributors with regard to cross-border services in the EU after the withdrawal of the UK from the EU without a withdrawal agreement. The Recommendations will apply as of the date following that on which the European Union's acquis ceases to apply to and in the United Kingdom.In principle, insurance contracts concluded before that date by UK insurance undertakings in the EU27 are valid after that date. However, the insurance…
MamoTCV Advocates
21st February 2019
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Maltese Lands Authority Fined €5,000 by the IDPC for Personal Data Breach Legal Updates

Maltese Lands Authority Fined €5,000 by the IDPC for Personal Data Breach

On February 18 2019, the Maltese Information and Data Protection Commissioner ('IDPC') issued his decision to the Lands Authority ('the Authority') following the investigation by the IDPC of the data breach which was brought to the IDPC's attention by the local press on 23rd November 2018. In the said journalistic piece, it was alleged that the Authority's website contained a serious flaw allowing significant amounts of personal data to be made available to the general public (via search engines). Over the course of his investigation, the Commissioner noted that the Authority's online portal indeed lacked the necessary technical and organisational…
MamoTCV Advocates
21st February 2019
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Artificial Intelligence: Some of the Challenges Ahead Telecoms, Media & Technology

Artificial Intelligence: Some of the Challenges Ahead

Introduction Reference to Artificial Intelligence ('AI') is likely to bring to mind dystopian pictures of a robot apocalypse as depicted in films such as iRobot or The Matrix or to spark debates on the possibility of machines with 'consciousness'. Yet although we are rightly concerned about AI and the future of mankind, catastrophic thinking may diminish or slow its progress and make us lose sight of its vast potential benefits. AI is more pervasive in our daily lives than one may think. Spotify and Netflix use AI to recommend songs, films or television shows which it considers relevant to our…
Michael Camilleri
21st February 2019
MAMO TCV Advocates speaker and panel member at FinanceMalta London event on Malta’s Proposition for UK Financial Services on the 21st February 2019. Insurance & Reinsurance

MAMO TCV Advocates speaker and panel member at FinanceMalta London event on Malta’s Proposition for UK Financial Services on the 21st February 2019.

FinanceMalta is organizing an event entitled 'Malta's Proposition for UK Financial Services' with a high-level focus on Malta, consisting of four focused discussions on Asset Management, Insurance, Private Wealth, and Blockchain. Ms. Romina Bonnici, Senior Manager-Regulatory & Compliance at Mamo TCV Advocates, will be addressing an introductory speech during the Insurance discussion on Malta's landscape of opportunities in insurance. Ms. Bonnici will also be a panel speaker on the insurance panel discussion. Disclaimer This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact Dr. Edmond…
Romina Bonnici
20th February 2019
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Articles of the Customs Ordinance and Excise Duty Act Declared Unconstitutional Litigation & Dispute Resolution

Articles of the Customs Ordinance and Excise Duty Act Declared Unconstitutional

In the case 'Michael Zammit v. Kontrollur tad-Dwana et'decided on the 8th February 2019, the First Hall of the Civil Court (Constitutional Jurisdiction) found that Articles 68 and 72(4) of Chapter 37 of the Laws of Malta (Customs Ordinance), together with Article 16A of Chapter 382 of the Laws of Malta (Excise Duty Act), are in breach of Article 1 of Protocol 1 of the European Convention of Human Rights and Article 37 of the Constitution of Malta (the right to property). It also found that Articles 72 and 73 of Chapter 37 of the Laws of Malta (Customs Ordinance),…
Michael E. Camilleri
20th February 2019
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EU Company Law to be Adapted to the Digital Era Corporate and M&A

EU Company Law to be Adapted to the Digital Era

The European Council has announced that it has reached a provisional agreement with the European Parliament on a draft directive that will facilitate and promote the use of online solutions in a company's contact with national regulatory authorities throughout its life cycle. The draft directive provides for the amendment of EU company law rules to allow for greater efficiency, transparency and legal certainty in company matters through the use of digital tools. The European Council has announced that the draft directive provides the following:Persons may register limited liability companies, and file company documents with national regulatory authorities entirely online;Information explaining national…
Joshua Chircop
19th February 2019