The Financial Intelligence Analysis Unit has issued sector specific Implementing Procedures which apply to Virtual Financial Assets ("VFA") Agents, VFA Service Providers, anyone conducting VFA offerings to the public and anyone who has notified the Malta Financial Services Authority of their intention to submit a licence application in terms of the VFA Act. The Implementing Procedures set out the manner in which these subject persons within the VFA sector must comply with AML/CFT obligations arising from the Prevention of Money Laundering and Funding of Terrorism ...

The Identity Malta Agency and the Malta Business Registry have announced that as from the 3 rd February, 2020:- (1) All new applications pertaining to registration of foundations and association as legal persons in terms of the Second Schedule of the Civil Code; and (2) The submission of information pertaining to the Register of Beneficial Owners in terms of the Civil Code (Second Schedule) (Register of Beneficial Owners - Associations) Regulations and Civil Code (Second Schedule) (Register of Beneficial Owners - Foundations) Regulations; Shall be delivered to the...

Mamo TCV Advocates have announced the appointment of Claude Micallef-Grimaud and Simon Pullicino as partners with the firm with effect from 1 st January 2020. Dr Micallef-Grimaud joined the firm in 2008 as an associate and currently forms part of the firm's Technology, Media & Telecommunications (TMT) and Intellectual Property (IP) departments. Dr Micallef-Grimaud's main practice area is privacy law with a focus on data protection, where he is widely considered as one of the leading practitioners in the field. He also represents local and international clients...

Mamo TCV lawyers Michael Psaila and Simon Pullicino have contributed the #Malta chapter in the Chambers Insolvency 2019 Second Edition Guide. This country-specific Q&A provides an overview of the legal framework regarding corporate insolvency law in Malta. Below, please find the link to the Malta chapter: https://practiceguides.chambers.com/practice-guides/insolvency-2019-second-edition/malta   Disclaimer This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitat...

The MFSA has recently issued a consultation document on Company Service Providers. The scope of the proposed enhanced requirements is to raise the standard of the Company Service Providers sector in Malta in view of the concerns raised by the Committee of Experts on the evaluation of the Anti-Money Laundering Measures and the Financing of Terrorism ('MoneyVal') in its Fifth Round Mutual Evaluation Report on Malta in July 2019. The consultation document summarises the applicable regulatory framework for Maltese Company Service Providers in order to raise awareness ...