Oct
18

Regulatory Reporting and Submission of Financial Documentation through the MFSA Licence Holder Portal

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On the 17 th October 2019, the MFSA (the " Authority ") issued a circular on the submission of regulatory reporting in relation to collective investment schemes, recognised persons and investment services licence holders. As from 31 st October 2019 recognised persons and licence holders must submit all regulatory reporting through the Authority's Licence Holder Portal (" LH Portal "). The aim of this development is to facilitate and expedite the process of submission of financial statements and other regulatory reporting to the Authority.Notwithstanding this, hard...
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Oct
15

Malta Budget 2020

Malta Budget 2020
Below are the salient points of the Malta Budget for the year 2020 , which was presented to the House of Representatives by the Hon. Prof. Edward Scicluna, Minister of Finance, on 14 October 2019. For a review of the salient points of the Malta budget for the year 2019, please click here . To view and download the report, please click here . Economic Performance Malta registered a surplus – A surplus of 1.4% is forecasted for 2020 and GDP is projected to grow by 4.3%. Government debt has been reduced to 43% of GDP in 2019 and is expected to be further reduced to 4...
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Oct
09

New Rules on Secondary Processing of Health Data Come into Force

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The Minister for Health, following consultation with the Data Protection Commissioner, has enacted regulations, through a Legal Notice, to allow for the secondary processing of health data. Secondary processing includes all those forms of processing that are not linked to the primary purpose (providing a health service) for which the data were collected and thus includes: administrative work, analysis of health records, compiling statistics, compiling evidence in medico-legal cases, investigation of health threats and other research activities. This Legal Notice s...
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Aug
22

Recent GDPR Fines Issued in Various Countries

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Country: Greece (first fine ever issued by the Greek data protection authority) Fine Amount: €150,000 Issued to: PWC Business Solutions Reason: The company, i.e. an employer, had decided to use consent as a legal basis for processing the personal data of its employees for various standard work-related purposes (e.g. paying the employees, sending the employees' personal data to relevant tax and labour authorities etc.). The Greek data protection authority held that consent is not a sound legal basis in the context of employment, due to the relationship between empl...
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Aug
01

Mamo TCV (VFA) Ltd registered as VFA Agent

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We are pleased to announce that our subsidiary company, Mamo TCV (VFA) Ltd, has been set up and officially registered as a VFA Agent with the Malta Financial Services Authority, in terms of Article 14 of the Virtual Financial Assets Act (Chapter 590 of the Laws of Malta) (the "Act"). Mamo TCV (VFA) Ltd is now eligible to assist Virtual Financial Assets ("VFA") Service Providers to apply for a licence under the Act and support VFA Service Providers in any ancillary matters permitted by the VFA legal framework. Disclaimer This document does not purport to give legal...
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