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Capital MarketsLegal Update

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
Legal Update

Prospectus and Transparency Rules in Case of No-Deal Brexit

On the 31 January 2019, the European Securities and Markets Authority (ESMA) issued three Q&As regarding the Prospectus Directive (PD) and the Transparency Directive (TD).The purpose of the Q&As is to promote common supervisory approaches and practices in the application of the PD and the TD in case of a no-deal Brexit. The Q&As provide the following clarifications in the event of a no-deal Brexit: 1.When issuers of equity securities and non-equity securities below 1,000 EUR who currently have the UK as their PD home Member State choose a new home Member State, they should choose between the EU27 Member…
MamoTCV Advocates
12th February 2019
Legal Update

Prospectus and Transparency Rules in Case of No-Deal Brexit

On the 31 January 2019, the European Securities and Markets Authority (ESMA) issued three Q&As regarding the Prospectus Directive (PD) and the Transparency Directive (TD).The purpose of the Q&As is to promote common supervisory approaches and practices in the application of the PD and the TD in case of a no-deal Brexit. The Q&As provide the following clarifications in the event of a no-deal Brexit: 1.When issuers of equity securities and non-equity securities below 1,000 EUR who currently have the UK as their PD home Member State choose a new home Member State, they should choose between the EU27 Member…
MamoTCV Advocates
12th February 2019