Category

Investment Services & Funds

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The Companies Act (Register of Beneficial Owners) Regulations and Recent Amendments Investment Services & Funds

The Companies Act (Register of Beneficial Owners) Regulations and Recent Amendments

The Companies Act (Register of Beneficial Owners) Regulations (the "Regulations") introduced the obligation on all companies constituted under the Companies Act, to submit to the Registrar a declaration containing information on all the beneficial owners of the company. This information submitted to the Registrar is used to compile an electronic register of all the beneficial owners of Maltese companies. The Regulations exempt certain entities from the obligations established by the Regulations. Exempted entities are companies listed on a regulated market which are subject to disclosure requirements consistent with EU law, or any equivalent international standards which ensure adequate transparency. Moreover,…
Anna Grech
13th August 2019
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Analysing the major amendments to be brought about by The Fifth Anti-Money Laundering Directive Corporate and M&AInvestment 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
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Analysing the major amendments to be brought about by The Fifth Anti-Money Laundering Directive Corporate and M&AInvestment 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
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European Parliament adopts the 5th Anti-Money Laundering Directive Investment Services & Funds

European Parliament adopts the 5th Anti-Money Laundering Directive

Barely a year following the implementation of the 4th Anti-Money Laundering Directive, the European Parliament has adopted a new directive which aims to add further layers to the European anti-money laundering framework. The 5th Anti-Money Laundering Directive ("5AMLD") was adopted on the 19th of April 2018, and should be fully implemented into national law by the various Member States from eighteen months to the date in which it is published in the Official Journal. The 5AMLD contains several key amendments to the existing directives, mainly:1. Register of Beneficial OwnersThe 4th Anti-Money Laundering Directive brought about the obligation for EU Member…
Luke Mizzi
24th April 2018
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European Parliament adopts the 5th Anti-Money Laundering Directive Investment Services & Funds

European Parliament adopts the 5th Anti-Money Laundering Directive

Barely a year following the implementation of the 4th Anti-Money Laundering Directive, the European Parliament has adopted a new directive which aims to add further layers to the European anti-money laundering framework. The 5th Anti-Money Laundering Directive ("5AMLD") was adopted on the 19th of April 2018, and should be fully implemented into national law by the various Member States from eighteen months to the date in which it is published in the Official Journal. The 5AMLD contains several key amendments to the existing directives, mainly:1. Register of Beneficial OwnersThe 4th Anti-Money Laundering Directive brought about the obligation for EU Member…
Luke Mizzi
24th April 2018
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MFSA launches Supplementary Licence Conditions applicable to Professional Investor Funds investing in Virtual Currencies. Investment Services & Funds

MFSA launches Supplementary Licence Conditions applicable to Professional Investor Funds investing in Virtual Currencies.

After the Malta Financial Services Authority's ("MFSA") consultation process on the Regulation of Collective Investment Schemes Investing in Virtual Currencies and the subsequent feedback statement issued on such matter, the MFSA has published Supplementary Conditions applicable to Professional Investor Funds ('PIFs') investing in Virtual Currencies ('VCs'). Coupled with the recent discussion paper on Initial Coin Offerings, Virtual Currencies and Related Service Providers, it is clear that the MFSA is seeking to create a strong regulatory framework and ensure high levels of investor protection and market integrity in the ever-expanding digital economy. The supplementary license conditions have introduced new requirements targeted…
Luke Mizzi
30th January 2018