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Senior Regulatory Advisor

Lara Falzon

Lara Falzon

Lara Falzon is a Senior Regulatory Advisor in the Investments and Insurance law practice group of Mamo TCV Advocates. Her role focuses on assisting financial service providers on compliance and regulatory matters.

Lara previously occupied the position of Senior Manager within Conduct Function at the Malta Financial Services Authority leading an analytical and multidisciplinary team whose duties primarily involved the collection and analysis of conduct related data of insurance undertakings and MiFID firms; review of promotional material issued by Regulated Persons and the launch of consumer educational campaigns and related initiatives.

During her eight-year tenure at the Malta Financial Services Authority, Lara also attended and participated in international regulatory fora, including the Financial Innovation Standing Committee of the European Securities and Markets Authority.


  • Bachelor of Commerce (Honours), Banking and Finance (2008, University of Malta)
  • IFSP Foundation Certificate in Trust Law and Management (2010, IFSP)

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MAMO TCV Advocates
Palazzo Pietro Stiges
103, Strait Street
Valletta, VLT 1436


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Insurance & Reinsurance

Regulatory Compliance Quarterly Update | Q1 2023

We are pleased to issue our fourth edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to Investment Services and Asset Management, Company Service Providers, Insurance Undertakings, and Insurance Intermediaries. Our fourth Regulatory Compliance Quarterly Update can be found here.The Regulatory Compliance Quarterly Update does not purport to give legal, regulatory,financial or tax advice. Should you require further information or assistance, please do not hesitate…
EIOPA publishes Supervisory Statement on the Use of Governance Arrangements in Third Countries
Insurance & Reinsurance

EIOPA publishes Supervisory Statement on the Use of Governance Arrangements in Third Countries

On the 2nd of February 2023, the European Insurance and Occupational Pensions Authority (hereinafter referred to as “EIOPA”) published a Supervisory Statement on the use of governance arrangements in third countries to perform functions or activities (hereinafter referred to as the “Statement”). This Statement has been published in the context of EIOPA’s previous emphasis on insurance undertakings to institute corporate substance proportionate to the nature, scale and complexity of their business. The aim of this Statement is to strengthen the level of supervision and monitoring of insurance undertakings’ and insurance intermediaries’ compliance with relevant legislation in connection with their governance…
AI systems are ultimately complex computer codes whose output reflects their input. If the inputted data contains human bias, the AI system tends to produce results which exacerbates existing biases. In this insight briefing, we analyse the effect that human bias in AI could have on EU investment funds.
Investment Services & Funds

AI & Funds #5 – Human Bias

In an underground burial temple located within the EU’s southernmost State, one can find a primitive drawing of a spiralling never-ending red tree. Archaeologists opine that the millennia-old Saflieni Hypogeum’s ‘Tree of Life’ was painted to give meaning to death. There is no evidence that the Maltese prehistoric biosphere sustained red spiralling trees. If archaeologists did not inform us about this pictorial human bias, one might have assumed that never-ending trees did exist in Malta. Humans understand that trees are not never-ending and the red artefact is merely an imaginary depiction. On the other hand, Artificial Intelligence (“AI”) knows that…
The legal obligation to disclose information is a frequent occurrence in investment services laws. The draft framework for regulating artificial intelligence in the EU also puts vigorous emphasis on transparency. In this insight briefing, we compare the transparency obligations under the AIFMD with Article 52 of the draft EU AI Act to analyse the former’s adroitness for AI utilisation.
Investment Services & Funds
AI & Funds #4 – Transparency Obligations
Title [Capitalize the first letter of all words in the title - except short ones like ‘a’, ‘of’ etc.] [Please keep News Update Titles as short as possible} MFSA publishes Consultation Document on Proposed Amendments to the Insurance Business Act and Insurance Distribution Act
Insurance & Reinsurance
Proposed Amendments to the IBA and IDA set out by MFSA in Consultation Document
The proposed EU AI Act will provide for four risk classifications of artificial intelligence. Each classification will trigger different rules. In this insight briefing we analyse the use of AI in investment funds to determine which one of the four AI classifications would be applicable.
Investment Services & Funds
AI & Funds #3 – Risk Classifications