The MFSA (the "Authority") has issued a guidance document on the fitness and properness assessment which is currently applied by the Authority. This document outlines the high-level principles that must be adhered to in order to safeguard and ensure the integrity of the financial services sector. In assessing the fitness and properness of individuals proposed for, or holding, approved positions, the Authority assesses the following four criteria: i. Competence; ii. Reputation; iii. Conflicts of Interest and Independence of Mind; and iv. Time Commitment. It is impo...

During the annual MamoTCV Quiz Night held on the 30th May 2019 the employees, associates and partners of the firm have collected the nice sum of €2600, this year to be donated to Dar tal-Providenza. This sum was presented to Dar tal-Providenza on the popular tv programme Xarabank, during the special edition dedicated to fund raising to help this special institution. Dr. Nicholas Valenzia and Dr. Jonathan Abela Fiorentino presented the cheque.

The European Court of Human Rights (the "ECtHR") has decided the following Article 1 of Protocol No. 1 ("A1-P1") cases during the month of May 2019:  Zammit & Vassallo v. Malta  [1] – where the European Court of Human Rights found a breach of applicants' right to property after the Maltese Government carried out a de facto expropriation of their flat in Senglea. The Maltese Government had failed to properly compensate the applicants for their loss, and the amount liquidated by the Constitutional Court was also too low. [1] Application No. 43675/16 de...

The Guidance Document for Credit Institutions, Payment Institutions and Electronic Money Institutions opening accounts for FinTechs has been jointly published by the Malta Financial Services Authority and the Financial Intelligence Analysis Unit, following a public consultation issued on the 27 th March 2019. The Guidance Document aims to assist the Institutions in developing a better understanding of the risks concerning customers of the Fintech realm, to allow these Institutions to offer their services to such customers while ensuring full compliance to the Prev...

On the invitation of Society Education, on 13 th June, 2019 Mamo TCV Advocates delivered a seminar regarding recent amendments to the laws regulating voluntary organisations and foundations. On behalf of Mamo TCV Advocates, Dr Dorita Cardona and Dr Joshua Chircop delivered their three-hour presentation titled: 'Amendments to Voluntary Organisations and Foundations'. The presentation was split into two parts, with the first examining certain key amendments to the Voluntary Organisations Act, including major definitions, the rules on non-profit making, mandatory enr...