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Recent Amendments to CBM Directive 19 Corporate and M&A

Recent Amendments to CBM Directive 19

Introduction Directive No. 19 (the “Directive”), issued by the Central Bank of Malta (the “CBM” or the “Central Bank”) on the 7th July 2021 officially came into effect on 1st January 2022, with amendments issued in September 2024. It applies to all paper-based instruments issued, processed, or encashed within Malta’s jurisdiction, as long as these instruments are denominated in euros. The Directive sets the framework for the safe and effective use of cheques and bank drafts (collectively referred to as "paper-based instruments") where the payer, payee and the regulated institutions servicing the paper-based instruments are all located in Malta. It…
Michael Psaila
19th November 2024
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Publication of the Insurance Distribution Act and Insurance Distribution Rules Insurance & Reinsurance

Publication of the Insurance Distribution Act and Insurance Distribution Rules

i. The Insurance Distribution ActOn the 10th July 2018, Act No. XXVI of 2018 was published bringing about changes to the Insurance Intermediaries Act (to be renamed as the 'Insurance Distribution Act' and which transposes the Insurance Distribution Directive (the 'IDD'). Act No. XXVI of 2018 shall come into force once the Commencement Notice is published in the Government Gazette.ii. Insurance Distribution RulesOn the 12th July 2018, the MFSA announced the publication of Insurance Distribution Rules (the 'IDRs') issued under the Insurance Distribution Act (Cap. 487) the main objective of which is to transpose the remaining provisions of the IDD. The IDRs…
Petra Attard
17th July 2018
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Publication of the Insurance Distribution Act and Insurance Distribution Rules Insurance & Reinsurance

Publication of the Insurance Distribution Act and Insurance Distribution Rules

i. The Insurance Distribution ActOn the 10th July 2018, Act No. XXVI of 2018 was published bringing about changes to the Insurance Intermediaries Act (to be renamed as the 'Insurance Distribution Act' and which transposes the Insurance Distribution Directive (the 'IDD'). Act No. XXVI of 2018 shall come into force once the Commencement Notice is published in the Government Gazette.ii. Insurance Distribution RulesOn the 12th July 2018, the MFSA announced the publication of Insurance Distribution Rules (the 'IDRs') issued under the Insurance Distribution Act (Cap. 487) the main objective of which is to transpose the remaining provisions of the IDD. The IDRs…
Petra Attard
17th July 2018