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Corporate & CommercialInvestment Services & Funds

Analysing the major amendments to be brought about by The Fifth Anti-Money Laundering Directive

This article was written by Luke Mizzi and Tessa Borg Bartolo As Europe was still digesting and implementing the provisions of the Fourth Anti-Money Laundering Directive in 2016, a fresh proposal was drawn up by the European Commission for a new legislative initiative to cater for recent economic and political developments throughout the globe which demonstrated crucial loopholes in existing Anti-money laundering legislation. Of particular concern to legislators was the growth and evolution of terrorist financing as well as revelations such as Swiss leaks and the Panama Papers which shed light on a number of key deficiencies in the global…
Luke Mizzi
28th August 2018
Corporate & CommercialInvestment Services & Funds

Analysing the major amendments to be brought about by The Fifth Anti-Money Laundering Directive

This article was written by Luke Mizzi and Tessa Borg Bartolo As Europe was still digesting and implementing the provisions of the Fourth Anti-Money Laundering Directive in 2016, a fresh proposal was drawn up by the European Commission for a new legislative initiative to cater for recent economic and political developments throughout the globe which demonstrated crucial loopholes in existing Anti-money laundering legislation. Of particular concern to legislators was the growth and evolution of terrorist financing as well as revelations such as Swiss leaks and the Panama Papers which shed light on a number of key deficiencies in the global…
Luke Mizzi
28th August 2018
Telecoms, Media & Technology

The MFSA publishes Financial Instrument Test

This article was written by Dr. Christina Scicluna & Dr. Luke Mizzi. Following the Malta Financial Services Authority's (MFSA) consultation process the Authority has published a trial version of the financial instrument test which shall be carried out by issuers of Initial Coin Offerings (ICOs) prior to the offering of DLT assets to the public in or from within Malta and by persons providing any service and/or performing any activity, within the context of either the Virtual Financial Assets Act or investment services legislation. The test shall take place by means of an interactive excel sheet which transposes the various…
Luke Mizzi
27th July 2018
Telecoms, Media & Technology

The MFSA publishes Financial Instrument Test

This article was written by Dr. Christina Scicluna & Dr. Luke Mizzi. Following the Malta Financial Services Authority's (MFSA) consultation process the Authority has published a trial version of the financial instrument test which shall be carried out by issuers of Initial Coin Offerings (ICOs) prior to the offering of DLT assets to the public in or from within Malta and by persons providing any service and/or performing any activity, within the context of either the Virtual Financial Assets Act or investment services legislation. The test shall take place by means of an interactive excel sheet which transposes the various…
Luke Mizzi
27th July 2018
Telecoms, Media & Technology

DLT Exchanges Under the Newly Enacted VFA Act

This article was written by Dr. Luke Mizzi & Dr. Paul Felice. The Maltese Parliament has approved and enacted three Acts aimed at regulating Distributed Ledger Technology (hereafter referred to as "DLT") and the services ancillary thereto. One of the said Acts is the Virtual Financial Assets Act (hereafter referred to as the "VFA Act") which regulates, amongst other aspects, the issuing of ICO/Virtual Financials Assets, (hereafter referred to as a 'VFAs') in or from within Malta.One of the central activities regulated by the VFA Act is the setting up and operation of a DLT exchange and a VFA exchange. The VFA…
Luke Mizzi
23rd July 2018
Telecoms, Media & Technology

DLT Exchanges Under the Newly Enacted VFA Act

This article was written by Dr. Luke Mizzi & Dr. Paul Felice. The Maltese Parliament has approved and enacted three Acts aimed at regulating Distributed Ledger Technology (hereafter referred to as "DLT") and the services ancillary thereto. One of the said Acts is the Virtual Financial Assets Act (hereafter referred to as the "VFA Act") which regulates, amongst other aspects, the issuing of ICO/Virtual Financials Assets, (hereafter referred to as a 'VFAs') in or from within Malta.One of the central activities regulated by the VFA Act is the setting up and operation of a DLT exchange and a VFA exchange. The VFA…
Luke Mizzi
23rd July 2018