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The Investment Firms Regulation and Directive – Master Data Collection and Investment Firms Classification Investment Services & Funds

The Investment Firms Regulation and Directive – Master Data Collection and Investment Firms Classification

The Investment Firms Regulation and Directive (the "IFR/D Package"), became applicable on the 26th of June 2021. The IFR/D Package introduced a new prudential framework that is applicable to Investment Firms. For further details on the coming into force of the IFR/D Package, kindly refer to our article of the 4th of November 2021. On the 17th of January 2022, the Malta Financial Services Authority (the "MFSA") issued a Circular titled "The Investment Firms Regulation and Directive – Data Collection", which follows up on other circulars and briefings that were issued by the MFSA following the coming into force of…
Anthea Sammut​
25th January 2022
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MFSA Update: PMDR Notifications to be Filed Online Capital MarketsLegal Updates

MFSA Update: PMDR Notifications to be Filed Online

Persons discharging managerial responsibilities ('PMDRs'), or persons closely associated with them, are now required to submit PMDR notifications through the Malta Financial Services Authority's ('MFSA') online form. In terms of the Market Abuse Regulation (Regulation (EU) No 596/2014, hereinafter the 'Regulation'), PMDRs and persons closely associated with them are required to notify the issuer and the MFSA of every transaction conducted on their own account relating to the shares or debt instruments of that issuer once the total value of transactions executed in a calendar year exceeds €5,000. It is important to note that such notifications must be made by…
MamoTCV Advocates
13th January 2022
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Mamo TCV Delivers seminar on Company Secretary at Society Education Event Corporate and M&ALegal Updates

Mamo TCV Delivers seminar on Company Secretary at Society Education Event

On 30th November 2021, Dr Joshua Chircop delivered a seminar regarding the Duties of the Company Secretary on behalf of Mamo TCV Advocates on the invitation of Society Education. The presentation was split into three parts, with the first examining the appointment and removal of the company secretary. The second part focused on the statutory functions and responsibilities of the company secretary together with the holding of general meetings and board meetings. The third part of the seminar focused on the responsibilities of the company secretary under VAT legislation together with salient considerations under the Prevention of Money Laundering Act and…
MamoTCV Advocates
7th December 2021
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Reinstatement of Employee after Finding of Unfair Dismissal Employment and Industrial Relations

Reinstatement of Employee after Finding of Unfair Dismissal

This article was written by​ Dr Christine Calleja and Tessa Borg Bartolo​In a recent judgment, 67/2020 LM, the Court of Appeal dealt with a case where an employee was claiming to have been unfairly dismissed by his employer on account of a medical condition - Obstructive Sleep Apnoea. The employee had been diagnosed with this condition by a professional in the field after multiple warnings were given to him by his employer in this regard. The employer had brought to his attention the numerous occasions in which he was found sleeping while at work, as well as other instances in…
Christine Calleja
3rd December 2021
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Aircraft Operator’s Bid for a Warrant of Prohibitory Injunction to Limit the Exercise of an IDERA Fails – Court Upholds the Supremacy of an IDERA Aviation

Aircraft Operator’s Bid for a Warrant of Prohibitory Injunction to Limit the Exercise of an IDERA Fails – Court Upholds the Supremacy of an IDERA

The exercise of rights under the Irrevocable De-registration and Export Request Authorisation (IDERA) has been accentuated in a ground-breaking decree delivered earlier this month by the First Hall, Civil Court, presided over by Hon. Justice Robert G. Mangion, when it was called to determine whether a warrant of prohibitory injunction can be issued to prohibit the holder of an IDERA registered in Malta from enforcing the IDERA and therefore from unilaterally requesting and procuring the de-registration of the aircraft from the Maltese Registry.In its decree delivered on 8th November, 2021, in the names of Air X Charter Limited and Air…
Ingrid Fenech
1st December 2021
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Transposition of the EU Whistleblower Directive into the Protection of the Whistleblower Act, Chapter 527 of the Laws of Malta Employment and Industrial Relations

Transposition of the EU Whistleblower Directive into the Protection of the Whistleblower Act, Chapter 527 of the Laws of Malta

This article was written by​ Dr Petra Attard and Dr Martina BonniciThe legislation currently regulating whistleblower protection in Malta is the Protection of the Whistleblower Act, Chapter 527 of the Laws of Malta (the ''Act'') which came into force on the 15th September 2013. While the Whistleblowing Directive EU 2019/1937 (the "Directive") has not yet been transposed into Maltese law, Bill 249 of 2021, titled An Act to Amend the Protection of the Whistleblower Act (the "Amending Act"), published on the 15th November 2021 seeks to amend the Act in order to align it with the Directive. It is yet…
Petra Attard
30th November 2021