The Malta Financial Services Authority (“MFSA”) recently announced some changes to the Rulebook for Company Service Providers (the “Rulebook”), which came into effect on 23rd January 2024. These modifications are primarily concerned with the regulatory submission process for licensed Company Service Providers (“CSPs”). Notably, these changes will have implications for submissions due in 2024 and...
These regulations provide eligible insurance entities to apply an alternative accounting framework to the International Financial Reporting Standards adopted at EU level. MFSA have issued a circular in this regard – https://www.mfsa.mt/publication/circular-on-the-newly-published-accountancy-profession-general-accounting-principles-in-respect-of-certain-eligible-entities-regulations-2023-legal-notice-299-of-2023-gapee/
A provisional agreement has been reached at EU level, on a new law that will improve the working conditions of platform workers. The Platform Work Directive will ensure correct classification of the employment status of people performing platform work. Moreover, it will be the first set of EU-rules that regulate the use of algorithmic management...
Identità Malta has introduced a new initiative, the Specialist Employee Initiative. The aim of this initiative is to accelerate the application process for highly skilled third-country nationals. Applications filed under this scheme are to be processed within fifteen (15) working days. In order to qualify under this initiative, one must satisfy the following criteria: Minimum...
Welcome to the monthly capital markets update, a briefing from our capital markets practice area rounding up the month’s regulatory developments within the equity and debt capital markets and looking ahead to future developments. Malta Update There were no updates from a Maltese regulatory perspective during the month of December 2023. European Union Update UPDATE NUMBER...
Welcome to the monthly capital markets update, a briefing from our capital markets practice area rounding up the month’s regulatory developments within the equity and debt capital markets and looking ahead to future developments. Malta Update There were no updates from a Maltese regulatory perspective during the month of November 2023. European Union Update UPDATE NUMBER...
The Employment Agencies Regulations of 2023 come into force 1st April 2024. The Regulations introduce a new regime for regulating the services provided by employment agencies, which were largely unregulated. These Regulations apply to employment agencies that provide recruitment services, temporary work services and/or outsourcing services. The Regulations impose mandatory licensing, applications for which will...
Malta has recently implemented changes to the Eighth Schedule of the Value Added Tax Act (Chapter 406 of the Laws of Malta), introducing a reduced VAT rate specifically applicable to the hiring of pleasure yachts. This modification, influenced by the adoption of Council Directive (EU) 2022/542 on April 5, 2022, marks a departure from the...
David Zahra has just returned from the 6th Annual IBA European Start-up Conference held at the One Great George Street, London. The conference took place on 27-28 September 2023. The conference brought together a myriad of visionary founders, dedicated entrepreneurs, and proficient legal experts actively involved in the field of startups. It served as a platform...
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