PARTNERS AND ASSOCIATES

PRACTICE AREAS

NEWS AND EVENTS

DOWNLOADS

PRACTICE AREAS



Overview of Practice Areas



Corporate



Financial Services
Banking and Financial
Investment Services
Collective Investment Schemes
Financial Markets
Financial Institutions
Insurance
Prevention of Money Laundering



Communications, Media and Technology



Intellectual Property & Anti Counterfeiting



Shipping & Aviation



Litigation and Alternative Dispute Resolution



Gaming and Lotteries



Competition



Employment and Labour



Real Estate & Development



Other

BANKING AND FINANCIAL SERVICES

Mamo TCV offers a full complement of legal services in the field of:

investment services;
collective investment schemes;
credit, e-money and financial institutions;
financial markets;
the business of insurance;
fiscal incentives and international taxation;
prevention of money laundering and funding of terrorism; and
exchange control and payment services.

Over the years Mamo TCV has developed extensive experience in this practice area. We advise and assist several local and foreign clients operating in the financial services sector and insurance business. The firm’s Financial Services Unit is also involved where clients engage in projects or transactions that entail the application of Maltese financial services legislation and delivers legal opinions on financial transactions and related agreements. The firm has participated in several cross-jurisdictional surveys on the transposition and implementation of Community legislation (including, MiFID and the Capital Requirements Directives) in Malta. We closely monitor legislative and regulatory changes, whether imposed by European or international institutions or organisations or due to local developments and consult with the Malta Financial Services Authority (the “MFSA”) on a regular basis in order to ensure that clients receive pertinent and hands-on advice on local law and policy.

Legal framework for financial services

Malta has developed a comprehensive legislative and regulatory framework to accommodate the financial services sector and to ensure adequate investor protection. After the exercise of turning Malta into an onshore jurisdiction in 1994, the country’s accession to the European Union in 2004 brought about a new wave of legislative and regulatory changes in the field of financial services, in particular with regards to banks, UCITS, investment firms and insurance undertakings. Malta has aligned its legal framework with the relevant acquis communautaire, which has created new opportunities for local and overseas businesses in terms of freedom of establishment and to provide cross-border services (“passporting”).

The MFSA is the single regulator for financial services. The MFSA licenses, regulates and supervises investment services providers, funds, credit, e-money and financial institutions, trusts, and insurance undertakings and intermediaries. It also acts as the Registrar of Companies, as the competent authority for Recognised Investment Exchanges and as the Listing Authority.

Incentives

As a domicile for operators in the financial services sector, Malta offers several advantages over other comparable jurisdictions, including the following:

Malta is an onshore jurisdiction which ensures an internationally accepted standard of regulation at a reasonable cost;
it is a member of the European Union and has aligned its laws and regulations with the acquis communautaire governing financial services;
the Malta Financial Services Authority (“MFSA”), the single regulator of financial services, is approachable and committed to delivering a timely and efficient service;
there is a well developed infrastructure and services industry and a skilled professional labour force at a competitive operating cost;
a favourable tax regime and a comprehensive Double Tax Treaty network provide for excellent tax planning opportunities;
the Maltese islands are situated in the heart of the Mediterranean and are easily accessible by air.

For further information about funds, view the firm's Funds Brochure