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Tessa Borg Bartolo

EIOPA publishes Supervisory Statement on the Use of Governance Arrangements in Third Countries
Insurance & Reinsurance

EIOPA publishes Supervisory Statement on the Use of Governance Arrangements in Third Countries

On the 2nd of February 2023, the European Insurance and Occupational Pensions Authority (hereinafter referred to as “EIOPA”) published a Supervisory Statement on the use of governance arrangements in third countries to perform functions or activities (hereinafter referred to as the “Statement”). This Statement has been published in the context of EIOPA’s previous emphasis on insurance undertakings to institute corporate substance proportionate to the nature, scale and complexity of their business. The aim of this Statement is to strengthen the level of supervision and monitoring of insurance undertakings’ and insurance intermediaries’ compliance with relevant legislation in connection with their governance…
Tessa Borg Bartolo
14th April 2023
Group Insurance policies - recent ECJ Judgment provides for review of the definition of ‘Insurance Intermediary’ in the context of the IDD and IMD.
Insurance & Reinsurance

Group Insurance policies – ECJ Decision Revises the Definitions of ‘Insurance Intermediary’ and ‘Insurance Mediation’

In Case C-633/20 of the European Court of Justice (the ‘Court’) delivered on the 29th September 2022, the First Chamber of the Court produced a judgment (the ‘Judgment’) in response to a reference for a preliminary ruling concerning the definition of ‘insurance intermediary’ in the context of Directive 2016/97 (the ‘Insurance Distribution Directive’ or the ‘IDD’) and Directive 2002/92 (the ‘Insurance Mediation Directive’ or the ‘IMD’) and in the circumstances of the referring court’s main proceedings. The request was made in the proceedings between the Bundesverband der Verbraucherzentralen und Verbraucherverbände – Verbraucherzentrale Bundesverband eV (Federal Union of Consumer Organisations and…
Tessa Borg Bartolo
31st January 2023
A brief overview of the Insolvency Practitioners Bill
Corporate and M&A

The Proposed Insolvency Practitioners Bill

The Insolvency Practitioners Bill (‘the Bill’) is at its second reading in Parliament. The Bill is intended to partially transpose EU Directive 2019/1023 (‘the Directive’) on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt. The Bill regulates the profession of the Insolvency Practitioner (‘the IP’), whose role is envisaged by the Directive to be one which is not subject to mandatory appointment in all cases, but which is left at the discretion of each Member State. The Pre-Insolvency Bill provides that a preventive…
Tessa Borg Bartolo
30th November 2022
The Proposed Pre-Insolvency Bill A review of the relevant sections of the Pre-Insolvency Bill
Corporate and M&A

The Proposed Pre-Insolvency Bill

The Pre-Insolvency Bill (‘the Bill’) is at its second reading in Parliament. The Bill is being proposed as an Act to partially transpose EU Directive 2019/1023 (‘the Directive’) on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt. In short, new legal tools are being provided in a bid to rescue viable businesses in distress from entering into a state of insolvency. The Bill is organised in different parts including early warning tools and crisis prevention, the entry into a preventive restructuring procedure and…
Tessa Borg Bartolo
9th November 2022