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News Update: MFSA Announces Establishment of Online Trusts UBO Register Legal Updates

News Update: MFSA Announces Establishment of Online Trusts UBO Register

Following the transposition of the Fourth Anti-Money Laundering Directive (Directive 2015/849/EU) in Malta, the Malta Financial Services Authority (MFSA) established an ultimate beneficial owner (UBO) register for companies, trusts and other organisations.In this regard, the MFSA has announced that it has developed an online platform for the Trusts Ultimate Beneficial Ownership Register (the Register) which facilitates the electronic submission of beneficial ownership information of trusts, as well as providing online access of this information to entitled parties. Various national competent authorities, such as the Financial Intelligence Analysis Unit (FIAU), national tax authorities, the Police, the Asset Recovery Bureau, the Comptroller…
MamoTCV Advocates
16th January 2019
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European Union Blockchain Observatory and Forum Publishes its First Thematic Report NewsTelecoms, Media & Technology

European Union Blockchain Observatory and Forum Publishes its First Thematic Report

On the 16th of October 2018, the European Union Blockchain Observatory and Forum published its first thematic report which explores the provisions of the General Data Protection Regulation in light of the rise of one of the world's most disruptive new technologies, the Blockchain. The Report outlines the main concerns relating to the co-existence of the provisions of the GDPR and blockchain technology, which have to date not been conclusively settled by the data protection authorities, the European Data Protection Board (EDPB) or in court. It is important not to assume that using blockchain technology automatically makes an application more…
MamoTCV
14th January 2019
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European Union Blockchain Observatory and Forum Publishes its First Thematic Report NewsTelecoms, Media & Technology

European Union Blockchain Observatory and Forum Publishes its First Thematic Report

On the 16th of October 2018, the European Union Blockchain Observatory and Forum published its first thematic report which explores the provisions of the General Data Protection Regulation in light of the rise of one of the world's most disruptive new technologies, the Blockchain. The Report outlines the main concerns relating to the co-existence of the provisions of the GDPR and blockchain technology, which have to date not been conclusively settled by the data protection authorities, the European Data Protection Board (EDPB) or in court. It is important not to assume that using blockchain technology automatically makes an application more…
MamoTCV
14th January 2019
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Suspended Legal Notices Come into Force with Some Amendments Employment and Industrial Relations

Suspended Legal Notices Come into Force with Some Amendments

In August of last year, four employment related legal notices came into force but were shortly 'suspended' following various objections from interested stakeholders. The legal notices related to annual leave; itemised payslips; transfer of business and temporary agency workers. In December of last year, the legal notices relating to annual leave and itemised payslips were further amended and have now come into force. The legal notice introducing changes to the Transfer of Business (Protection of Employment) Regulations have not been amended and have apparently also come into force whilst the amendments to the Temporary Workers Agency Regulations are apparently still…
Christine Calleja
11th January 2019
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Suspended Legal Notices Come into Force with Some Amendments Employment and Industrial Relations

Suspended Legal Notices Come into Force with Some Amendments

In August of last year, four employment related legal notices came into force but were shortly 'suspended' following various objections from interested stakeholders. The legal notices related to annual leave; itemised payslips; transfer of business and temporary agency workers. In December of last year, the legal notices relating to annual leave and itemised payslips were further amended and have now come into force. The legal notice introducing changes to the Transfer of Business (Protection of Employment) Regulations have not been amended and have apparently also come into force whilst the amendments to the Temporary Workers Agency Regulations are apparently still…
Christine Calleja
11th January 2019
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News Update: Increase in Annual Leave and Minimum Wage Legal Updates

News Update: Increase in Annual Leave and Minimum Wage

The Organisation of Working Time Regulations have been amended by Legal Notice 444 of 2018. As from the 1st of January 2019, the number of hours of annual leave has increased by another eight hours, bringing the total to 208 hours per year. Also, from the 1st of January 2019, the standard minimum wage has been increased to €175.84. Wages of full-time employees are to increase by €2.33 as a cost of living increase with an additional €1 per week as a mandatory supplement (pro-rata for part-timers). Disclaimer This document does not purport to give legal, financial or tax advice. Should…
MamoTCV Advocates
11th January 2019