CSSF sets out more restrictive policy on UCITS investment in non-UCITS funds
Luxembourg’s Financial Sector Supervisory Authority (CSSF) has announced changes to its policy regarding investment by UCITS funds in non-UCITS undertakings for collective investment, amending the guidance contained in its Frequently Asked Questions document addressing the law of December 17, 2010 on undertakings for collective investment. In the interests of convergence at EU level regarding the …
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Qualifying Employment in Aviation (Personal Tax) Rules
Legal Notice 378 of 2017 has amended the Qualifying Employment in Aviation (Personal Tax) Rules which were originally promulgated in 2016, and amended by means of Legal Notice 1 of 2017. Under the Qualifying Employment in Aviation (Personal Tax) Rules, which have come into force specifically under the auspices of the Maltese Income Tax Act, …
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Award to Employee Following Transfer of Undertaking
The transfer of undertakings takes place when a business or undertaking is taken over by another Company (new employer) from the current Company (old employer). Any employee in employment, with the old employer, shall be deemed to be in employment by the new employer who shall also take on all the rights and obligations which …
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Lexology Navigator: Secured Lending Trends and Regulatory Climate
TRENDS AND REGULATORY CLIMATE TRENDS What is the current state of the lending market in your jurisdiction and have any new trends emerged over the last 12 months? The lending market in Malta has traditionally been a conservative one. This factor contributed significantly towards the stability of Maltese credit institutions and debt security issuers during and after …
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New Incentives for Family Businesses
The Family Business Act (the “Act”), which came into effect on the 1st of January 2017, aims to regulate family businesses and the manner in which they are managed and operated. It also endeavours to ease the process of succession and transfer of the family business. Through the Act, businesses can structure and register themselves as …
The European Commissions’s take on a European Data Economy
MOVING TOWARDS THE CONCEPT OF A EUROPEAN DATA ECONOMY Digital data is a fundamental resource for economic progress, job creation, citizen empowerment, competitiveness, and business development. The European Union (EU) must guarantee that data flows across borders and sectors. This data should be available and reusable by stakeholders in an efficient manner and supplemented by …
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Malta opportunity: Blockchain and Cryptocurrencies
Talking of cryptocurrencies as an opportunity for the Maltese banking sector might sound outlandish, in the context of a highly-regulated banking industry in Malta. However if one follows the rapid developments in cryptocurrencies across the globe, it is clearly inevitable that many industries, including traditional banks, will have to adapt to this highly innovative evolution …
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Sexual Harassment and Discrimination at the Forefront of the News
Are employers sufficiently aware of their obligations?
A More Poignant New Year than Usual for French Winemakers After CJEU Ruling on “Champagner Sorbet?
A recent court judgment of the CJEU on the use of the term “Champagne” might have broader implications for protected geographical indications in other agricultural sectors.
MFSA launches Supplementary Licence applicable to Investor Funds investing in Virtual Currencies.
The Malta Financial Services Authority launches Supplementary Licence Conditions applicable to Professional Investor Funds investing in Virtual Currencies.