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Mamo TCV Advocates

MFSA Enforcement and the Limits of Appeal Rights in Malta: Key Takeaways from the Phoenix Judgment Banking & Finance

MFSA Enforcement and the Limits of Appeal Rights in Malta: Key Takeaways from the Phoenix Judgment

The Civil Court, First Hall (Constitutional Jurisdiction), in the judgment Phoenix Payments Limited (now Lazarus Long Limited) v the Malta Financial Services Authority and the State Advocate (Application Number 272/2021), delivered by the Honorable Madam Justice Rachel Montebello on 27 April 2026, examined the administrative enforcement powers of the Malta Financial Services Authority (“MFSA”) and, critically, whether the available appeal mechanism satisfies the right to a fair hearing. Phoenix’s Application Phoenix Payments Limited (subsequently renamed Lazarus Long Limited) (“Phoenix”), a financial institution licensed and regulated by the MFSA under the Financial Institutions Act (Chapter 376 of the Laws of Malta)…
Mamo TCV Advocates
9th June 2026
ESMA Publishes Its 2025 Corporate Reporting Enforcement And Regulatory Activities Report Capital Markets

ESMA Publishes Its 2025 Corporate Reporting Enforcement And Regulatory Activities Report

On 27 May 2026, the Malta Financial Services Authority ("MFSA") issued a circular drawing the attention of market participants to the publication by the European Securities and Markets Authority ("ESMA") of its 2025 Corporate Reporting Enforcement and Regulatory Activities Report (the "Report"). The Report sets out the findings of European enforcers' examination of listed companies' annual financial reports and identifies the common enforcement priorities that national competent authorities across the European Union and the European Economic Area will focus on in their supervisory activities. ESMA's enforcement programme is designed to promote the consistent application of International Financial Reporting Standards ("IFRS")…
Mamo TCV Advocates
29th May 2026
Reforms to Wage Regulation Orders Presented at Times of Malta Event Employment and Industrial Relations

Reforms to Wage Regulation Orders Presented at Times of Malta Event

Recent reforms to Malta’s Wage Regulation Orders (WROs) were presented during a Times of Malta business breakfast, highlighting significant updates aimed at modernising employment conditions across sectors. At the core of these changes is the introduction of sick leave entitlement from the very first day of employment. This reform removes previous inconsistencies between sectors, ensuring that all workers are granted immediate access to sick leave without waiting periods. Employees will also benefit from improved family-related leave provisions. Bereavement leave and marriage leave have been standardised and increased to 3 days, offering workers more equitable and supportive conditions during important life…
Mamo TCV Advocates
29th April 2026
Mamo TCV Advocates reaffirms support for Alive Charity Foundation News

Mamo TCV Advocates reaffirms support for Alive Charity Foundation

Mamo TCV Advocates has once again supported the Alive Charity Foundation, with funds raised through the firm’s annual quiz night event, in aid of medical research, with a particular focus on cancer. Alive Charity Foundation is Malta’s first charity foundation established specifically to support medical research. Over the years, it has made meaningful contributions to local research initiatives and cancer treatment facilities, helping to improve outcomes for patients and their families. As part of its ongoing fundraising efforts, Alive Charity Foundation will be undertaking the ALIVE2026 Cycling Challenge for Cancer Research, scheduled to take place between 27 June and 5…
Mamo TCV Advocates
29th April 2026
Mamo TCV Advises Challenge on First Aviation Bond AviationCapital Markets

Mamo TCV Advises Challenge on First Aviation Bond

Mamo TCV Advocates, one of Malta's leading law firms, is proud to have acted as legal advisors to Challenge Aviation p.l.c. in connection with the approval of its bond issuance programme, and extends its congratulations on this significant achievement. This landmark achievement represents a significant milestone not only for Challenge Aviation but for Malta's entire aviation industry, as it marks the first time an aviation sector company has secured such approval in the jurisdiction. Challenge Aviation forms part of Challenge Group’s growing presence in Malta. Challenge Group has established itself as a prominent player in the global air cargo market,…
Mamo TCV Advocates
28th April 2026
Regulatory Compliance Quarterly Update | Q1 2026 Insurance & ReinsuranceInvestment Services & FundsRegulatory Compliance

Regulatory Compliance Quarterly Update | Q1 2026

We are pleased to issue the sixteenth edition of the Regulatory Compliance Quarterly Update. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to investment services, CSPs, fintech, insurance undertakings and insurance intermediaries. The sixteenth Regulatory Compliance Quarterly Update can be found here.The Regulatory Compliance Quarterly Update does not purport to give legal, regulatory, financial or tax advice. Should you require further information or assistance, please do not hesitate to contact Michael…
Mamo TCV Advocates
21st April 2026