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Corporate Legal Update for the Months of April and May 2023 Corporate and M&ALegal Updates

Corporate Legal Update for the Months of April and May 2023

On the 21st of April, Bill number 53 entitled the Arbiter for Financial Services (Amendment) Act (Chapter 555 of the Laws of Malta) was published among the Government Notices in the Supplement to the Government Gazette. This Bill has reached First Reading stage in Parliament and aims to amend the definitions of “customer” and “eligible customer” so as to enable consumer associations to file complaints before the Arbiter for Financial Services and to bring the Act in line with the provisions of Directive (EU) 2016/97. A subsequent Bill numbered 54 and entitled the Representative Actions (Consumers) Act was published in…
Mamo TCV Advocates
22nd June 2023
AI & Funds #6 –
Conflicts of Interest Investment Services & Funds

AI & Funds #6 –
Conflicts of Interest

The purpose of disclosing conflicts of interest in the investment services industry is to ensure maximum transparency for the investor. A common conflict of interest is the situation when the fund’s investment manager owns voting shares in the fund and appoints a director who is already heavily involved in the investment manager’s structure. Consequently, the appointed director might be conflicted if one is required to take a decision against the investment manager. To mitigate this conflict of interest, the fund would apply its existent policy on conflicts of interest which would stipulate that the conflict be disclosed during board meetings…
Mario Mizzi
15th June 2023
Mamo TCV Participates in Malta Shipping Symposium NewsShipping, Yachting and Transport

Mamo TCV Participates in Malta Shipping Symposium

Partner Dr Nicholas Valenzia and Associates Dr Aleandro Mifsud and Dr Alexia Pollacco attended the Malta Shipping Symposium which took place on the 30th of May 2023 at the Malta Chamber of Commerce. The event was organized by Transport Malta, the Ministry for Transport, Infrastructure and Capital Projects, the Malta Maritime Law Association and the Malta International Shipowners Association. The symposium celebrated the 50th anniversary of Malta’s Merchant Shipping Act bringing together numerous stakeholders from the local and international shipping industry and provided a forum for discussion on Malta’s past achievements in the sector and the potential for future growth.…
Mamo TCV Advocates
31st May 2023
EBACE 2023
Nicholas Valenzia and Joshua Chircop attend EBACE 2023 in Geneva News

Nicholas Valenzia and Joshua Chircop attend EBACE 2023 in Geneva

Partner Dr Nicholas Valenzia and Senior Associate Dr Joshua Chircop attended this year’s European Business Aviation Conference Exhibition held between the 23rd and 25th May in Geneva, Switzerland.EBACE is a premier event and the annual meeting place for the European business aviation community. The exhibition brings together business leaders, government officials, manufacturers, flight department personnel, avionics firms, fractional providers, charter/lease companies and all manner of people involved in nearly every aspect of business aviation. Get in touch with us at aviation@mamotcv.com should you require further information.
Mamo TCV Advocates
31st May 2023
Mamo TCV The Crowdfunding Service Providers Bill has reached first reading stage in Parliament
First Reading of Crowdfunding Service Providers Bill in Parliament Capital MarketsLegal Updates

First Reading of Crowdfunding Service Providers Bill in Parliament

The Crowdfunding Service Providers Bill reached First Reading stage in Parliament on the 17th of May, 2023. This proposed Act aims to implement provisions of Regulation (EU) 2020/1503 on European crowdfunding service providers for business and it provides for the establishment of a regulatory framework for crowdfunding service providers for business, including the organisation, authorisation and supervision of such crowdfunding service providers. Disclaimer: This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact info@mamotcv.com 
Mamo TCV Advocates
26th May 2023
The principle of Open Finance promotes an ecosystem where the customers of financial services allow some of their data to be utilised for the creation of more innovate financial solutions. The EU’s second Payment Services Directive (PSD2) is moving towards its third version, namely PSD3. In this insight briefing, we analyse how the proposed PSD3 could enhance the principle of Open Finance in the fintech sector.
Fintech Insights #3 –
Open Finance in the Proposed PSD3 FinTech

Fintech Insights #3 –
Open Finance in the Proposed PSD3

Open Finance is becoming a pivotal element in the evolution of the European Union's regulatory framework for payment services, most notably embodied in the anticipated Third Payment Services Directive (“PSD3”). The European Banking Authority (“EBA”) has proposed significant revisions to the current legislation, many of which aim to further the objectives of enhancing competition, facilitating innovation, increasing payment transaction security, protecting consumers, and creating a unified EU retail payments market​. The second version of the Payment Services Directive1 (“PSD2”) was last updated in 2015 and came into force in 2018. PSD2 not only offers clear guidelines to the payment service…
Mario Mizzi
24th May 2023