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Employment & LabourNews

New Rights for Adoptive Parents – the Adoption Leave National Standard Order

​On the 10th October 2016, new Regulations came into force, giving new rights to employees who have adopted a child, analogous to maternity leave. Prior to the Regulations, employees who adopted a child were only entitled to unpaid parental leave.The Adoption Leave National Standard Order (Subsidiary Legislation 452.11) provides that an employee who is the parent of an adopted child is entitled to an uninterrupted period of eighteen weeks' adoption leave, corresponding to the eighteen weeks' maternity leave. Similarly, also to maternity leave, only the first fourteen weeks are to be paid leave by the employer. If both parents are…
Christine Calleja
21st February 2017
Investment Services & FundsNews

Non-Financial Counterparty and Financial Counterparty obligations under EMIR

​Each of the following shall be deemed to be Financial Counterparties for the purposes of EMIR: a credit institution, an investment firm, a UCITS, and where relevant, its management company, an AIF managed by AIFM, an insurance, assurance, reinsurance undertaking, or an institution for occupational retirement provision.Non-financial counterparties ("NFCs") are all those counterparties to a derivative contract other than Financial Counterparties, Trade Repositories and Central Counterparties. Until a fund shall remain regulated under the Malta PIF regime, it shall be classified as an NFC (and hence Parts A, B and C below shall apply), however, it is important to note…
Katya Tua
21st November 2016
Investment Services & FundsNews

Malta: Implications of the Alternative Investment Fund Manager Directive (AIFMD)

1. Background1.1. The deadline for implementation of Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers1 ("AIFMD"), by the EU Member States is 22 July 2013. However, there are various transitional provisions and special provisions on the transposition of certain rules in relation to third countries, which make the application of such rules dependent on a positive advice / opinion from ESMA, and a delegated act from the European Commission. For the relevant timeframes, see Annex I.1.2. The AIFMD will concern, essentially:• Fund managers established in the EU managing and / or marketing Alternative Investment Funds ("AIFs"),…
Katya Tua
18th November 2016