PSD3 brewing? EU Commission launches consultations revising the Second Payment Services Directive
In line with the EU Digital Finance Strategy and the EU Retail Payments Strategy, the European Commission has just launched a series of consultation documents primarily aimed to collect market feedback on open finance rules and on any potential amendments to the EU Payment Services Directive 2015/2366 (“PSD 2”) – which directive sets out the …
New opportunities within the Maltese insurance market
In the third episode of ‘Ganado meets Finance’ podcast, Matthew Bianchi, partner and head of the insurance practice at Ganado Advocates meets the Malta Insurance Managers’ Association Chairperson Elizabeth Carbonaro.
New market abuse Q&As
The European Securities and Markets Authority (“ESMA”) recently updated its question and answer document on the Market Abuse Regulation (“MAR”). The updated document sees the introduction of two new questions and their corresponding answers which, broadly, provide that:
MSE’s strategy and the outlook for the Maltese capital markets
In the second episode of the ‘Ganado Meets Finance’ podcast, Nicholas Curmi, partner and head of the capital markets practice at Ganado Advocates, meets the Malta Stock Exchange’s Executive Chairman Joseph Portelli for a frank chat on the inner workings of the Malta Stock Exchange, and the way forward for the Maltese capital markets space.
Malta becomes one of the first EU Member States to integrate with BORIS
In terms of the Fifth and Sixth EU Anti-Money Laundering Directives [1] (“AMLDs”), the European Commission issued a communication accompanied by a series of reports paving the way forward for further discussions on the improvement of the anti-money laundering EU framework.
Exploring DORA – the key features
The reliance of financial entities on the use of technology within their business infrastructure is increasingly on the rise, given that it helps save on costs, increases efficiency and ultimately benefits consumers by offering a better end product. A number of insurance undertakings are in fact increasingly incorporating ‘tech’ within their product-lines and services, as …
ECJ rules on the passenger’s right to compensation from non-EU air carriers
The European Court of Justice (the “ECJ”), on 7 April 2022, delivered a preliminary ruling with regards to Regulation (EC) No 261/2004 which establishes common rules on compensation and assistance to passengers in the event of denied boarding and of cancellation or long delay of flights (the “Air Passenger Rights Regulation”) and as a result, has extended …
Continue reading “ECJ rules on the passenger’s right to compensation from non-EU air carriers”
EBA issues Guidelines on policies and procedures in relation to Compliance Management and the role and responsibilities of the AML/CFT Compliance Officer
On 2 August 2021, the European Banking Authority (the “EBA”) launched a public consultation on the on policies and procedures in relation to compliance management and the role and responsibilities of the anti-money laundering and counter financing of terrorism (“AML/CFT”) compliance officer under Article 8 and Chapter VI of Directive (EU) 2015/849 [1].
SUMMARY OF KEY LEGAL REQUIREMENTS FOR PROJECTS USING SPECIAL LOCATIONS IN VIETNAM
NO SPECIAL LOCATIONS RELEVANT LEGAL DOCUMENTS RELEVANT DEFINITIONS RELEVANT REQUIREMENTS 1 Projects using land on islands or in a border, coastal communes, wards, or townships Law on Investment Decree 43/2014/NĐ-CP Decree 34/2014/ND-CP N/A – M&A Approval for foreign investors regarding capital contribution or purchase of shares in companies having land use right …
Continue reading “SUMMARY OF KEY LEGAL REQUIREMENTS FOR PROJECTS USING SPECIAL LOCATIONS IN VIETNAM”
Changes to rating algorithms used by online platform business operators may violate the Antimonopoly Act
On June 16, 2022, the Tokyo District Court held that “Kakaku.com”, the operator of an online restaurant review and search platform, had abused its superior bargaining position and violated the Antimonopoly Act by improperly changing its restaurant rating algorithm.