We are pleased to issue the fifteenth edition of the Regulatory Compliance Quarterly Update. 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 fifteenth 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,…
As an integral active member of Finance Malta, Mamo TCV Advocates, continues to support the organisation in its mission to promote Malta as a jurisdiction of choice within global financial markets. During ADFW (the Abu Dhabi Finance Week), Dr Mario Mizzi, a financial regulatory lawyer at Mamo TCV Advocates joined Finance Malta’s delegation and shared key features of Malta’s hybrid legal framework which brings together foundations drawn from English common law and the proactive supervisory practices of a national competent authority applying EU financial legislation with proportionality. These elements combined with Malta’s EU residency routes, tax considerations, family office exemptions,…
Investment family offices that are setting up an investment structure in Malta (or even a branch thereof) have been given an additional incentive to choose Malta as an EU base due to a new residency law interpretation. On the 3rd of December, the MFSA issued a circular together with Malta’s immigration authorities titled “Joint MFSA and Residency Malta Agency Communication on a New Residency Scheme for Family Offices”. The circular explicitly “focuses on granting residence permits to individuals forming part of a family office structure”, notably ultimate beneficial owners (UBOs) and qualifying senior employees. This initiative is intended to enhance…