We are pleased to issue the thirteenth 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, CSPs, fintech, insurance undertakings and insurance intermediaries. The 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 to contact Michael Psaila,…
The Malta Digital Innovation Authority (“MDIA”) and the Information Data Protection Commission (“IDPC”) have been identified as the Maltese Market Surveillance Authorities (“MSA”) under EU Regulation 2024/1689 (the “AI Act”), albeit the process of designation has yet to be formally concluded. It is expected that this will take place shortly in the coming days. The MSAs will be tasked with overseeing the responsible use of AI systems in Malta and with having the competence to carry out investigations and issue fines and penalties where necessary. They will have a diverse set of responsibilities that may be categorised as follows: Maintaining…
In two recent partial judgments delivered on 22nd July 2025 in the liquidation proceedings in the names Genesis Global Limited vs X (127/2022 ISB), the Civil Court (Commercial Section) reaffirmed a key principle under Maltese company law: there is no right of appeal from decrees issued in the context of liquidations unless expressly provided for by law. The decrees arose from requests by two intervening parties seeking creditor recognition in the ongoing liquidation of a company regulated under the Companies Act (Chapter 386 of the Laws of Malta). Their applications to be included in the list of recognised creditors had…