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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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Mamo TCV (VFA) Ltd registered as VFA Agent Legal Updates

Mamo TCV (VFA) Ltd registered as VFA Agent

We are pleased to announce that our subsidiary company, Mamo TCV (VFA) Ltd, has been set up and officially registered as a VFA Agent with the Malta Financial Services Authority, in terms of Article 14 of the Virtual Financial Assets Act (Chapter 590 of the Laws of Malta) (the "Act"). Mamo TCV (VFA) Ltd is now eligible to assist Virtual Financial Assets ("VFA") Service Providers to apply for a licence under the Act and support VFA Service Providers in any ancillary matters permitted by the VFA legal framework. Disclaimer This document does not purport to give legal, financial or tax…
MamoTCV Advocates
1st August 2019
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FIAU Publishes Revised AML/CFT Implementing Procedures Corporate and M&A

FIAU Publishes Revised AML/CFT Implementing Procedures

The Financial Intelligence Analysis Unit (the FIAU) has published an amended version of the Implementing Procedures Part 1, with changes taking effect from the 19th July 2019 (the Amendments). The FIAU has announced that the Amendments intend to provide Subject Persons with more in-depth qualitative guidance to assist them in better fulfilling their Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) obligations.This follows recent amendments to the Prevention of Money Laundering Act, Chapter 373 of the Laws of Malta (the PMLA) and the Prevention of Money Laundering and Funding of TerrorismRegulations, Subsidiary Legislation 373.01 of the Laws of Malta (the…
Joshua Chircop
31st July 2019
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Amendments to the Competition Act and Consumer Affairs Act are now in force Legal Updates

Amendments to the Competition Act and Consumer Affairs Act are now in force

On 29 July 2019, Legal Notice 179 of 2019 brought the Competition Act and Consumer Affairs Act and other Laws (Amendment) Act ("the Amendment Act") into force. The Act introduced extensive amendments to the Competition Act (read more here) and the Consumer Affairs Act (read more here). These amendments are a welcome change intended to ensure that the procedure adopted by the relevant administrative authorities in competition and consumer cases comply with the right to a fair hearing enshrined in the Constitution of Malta. Disclaimer This document does not purport to give legal, financial or tax advice. Should you require…
MamoTCV Advocates
31st July 2019
Mamo TCV Welcomes Trainees for Summer 2019 News

Mamo TCV Welcomes Trainees for Summer 2019

Mamo TCV Advocates has the pleasure of welcoming a number of legal trainees for its Summer 2019 Internship Program.The trainees will be participating in one or more of the areas of practice of the Firm, including:​Corporate/ CommercialImmigrationIntellectual Property/ Data ProtectionLitigationShipping/ AviationFinancial ServicesEmploymentBanking & Finance The programme is designed to give students practical, hands-on experience by working at a leading law firm with experts in various fields.This is intended to help trainees prepare for their future careers in their chosen area of specialisation.The trainees will be involved in projects that will expose them to the chosen area of practice in a…
MamoTCV Advocates
29th July 2019
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The New Work-life Balance Directive Employment and Industrial Relations

The New Work-life Balance Directive

On the 13th June 2019, the European Council adopted a Directive aimed at bridging the gap between males and females in the workforce by catering for possible flexible working arrangements for parents and carers. Each Member State will need to implement this Directive into their national law. The main features of the Directive are the following:Paternal Leave: The Directive introduces the right for fathers to avail themselves of not less than ten working days of paternal leave on the occasion of the birth of their child. This right to paternity leave is applicable without any prejudice to marital or family…
Christine Calleja
29th July 2019