Apr
09

ESMA Publishes Guidance on Performance Fees in UCITS and Certain AIFs

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On the 3 rd April, 2020, the European Securities and Markets Authority (" ESMA ") published its final guidelines on performance fees in Undertakings for Collective Investments in Transferable Securities (" UCITS ") and certain types of Alternative Investment Funds (" AIFs "). The guidelines provide comprehensive guidance to fund managers when designing performance fee models for the funds they manage, including the assessment of the consistency between the performance fee model and the fund's investment objective, policy and strategy, particularly when the fund is...
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Apr
06

Malta’s €350 million State aid scheme approved by the Commission

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On 2 April 2020, the European Commission approved Malta's State aid scheme to support the local economy amid the COVID-19 outbreak. The scheme has an estimated budget of €350 million to enable public guarantees on loans to support the Maltese economy as it navigates through the current situation. It will also help businesses cover their liquidity needs. The Maltese government notified the scheme under the EU State aid Temporary Framework that was put into effect on the 19 March 2020. In approving the scheme, the European Commission acknowledged that this measure i...
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Apr
06

Office for Competition Announces Temporary Measures for Concentration Notifications in Response to COVID-19

News_Mamo
In the light of the COVID-19 outbreak, the Office for Competition (the "Office") is currently working remotely. As a result, new procedures for communication with the Office are being adopted, with the Office now accepting online concentration notification forms. All supporting documents accompanying the concentration notification form are to be submitted electronically, and the notification fee that must be paid by the notifying party/parties is to be sent via online banking. Further details in this regard can be accessed here . No documentation is to be physical...
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Apr
06

Commission Announces Extension of State Aid Temporary Framework

News_Mamo
Following the adoption of the State Aid Temporary Framework (the "Framework") on 19 March 2020, the Commission announced that a draft proposal to extend the Framework has been sent to the Member States for consultation. This draft proposal follows the number of State aid decisions that the Commission has taken in the light of the Framework and the current economic situation. The proposed extension will see additional support possibilities for the five types of aid measures outlined in the Framework, in that it will provide for: i. more support for COVID-19 related...
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Mar
31

Recent Amendments to the Maltese Subsidiary Legislation Regulating the Processing of data in the Insurance Sector

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Legal Notice 107 of 2020 (the 'Legal Notice') has recently introduced important changes and clarifications to the Maltese 'Processing of Data Concerning Health for Insurance Purposes Regulations' (S.L. 586.10), which, in parallel with the EU General Data Protection Regulation (GDPR) and the Maltese Data Protection Act (Chapter 586 of the Laws of Malta), regulate the processing of health data in the insurance sector. S.L. 586.10 primarily sought to set out a lawful basis for entities involved in the "business of insurance" to process data concerning health. Particu...
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2168 Hits
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