Reform of Circular CSSF 02/77 on NAV calculation errors and investment breaches
Introduction The CSSF published Circular CSSF 24/856 on investor protection in the event of a NAV calculation error, non-compliance with investment rules, and other errors (“Circular 24/856”) on 29 March 2024.
Proportionality is vital for a regulation of this nature
DORA represents a significant milestone in the EU’s efforts to strengthen the cybersecurity and operational resilience of financial entities.
Deciphering passenger consent – the ECJ’s latest ruling on flight reimbursement
On 21 March 2024, the European Court of Justice (“ECJ”) gave a preliminary ruling on the interpretation and scope of Regulation No 261/2004 of the European Parliament and of the Council establishing common rules on compensation and assistance to passengers in the event of denied boarding and of cancellation or long delay of flights (the …
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CSSF (Luxembourg) publishes Circular and FAQs on the AML/CFT Summary Report RC
On the 29 February 2024, the Commission de Surveillance du Secteur Financier (“CSSF”),
The OECD publishes report on the 2024 edition on Competition Trends
On 6 March 2024, the Organisation for Economic Co-operation and Development (“OECD”) published its report on global competition trends based on data from 77 OECD and non-OECD jurisdictions for the year 2022 (“Report”).
Amendments to the competitive bidding rules for installations producing electricity from Renewable Energy Sources Regulations
For a number of years the Government of Malta has sought to encourage the development of renewable energy projects through the grant of feed-in-tariffs.
MFSA circular and feedback statement re amendments to PCC regulations
On 28th March 2024 the Malta Financial Services Authority (the “MFSA”) issued a Circular and Feedback Statement on the amendments to the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations (the “PCC Regulations”),
European Commission updates market definition notice
On 8 February 2024, the European Commission (‘Commission’) published the revised Commission Notice on the definition of the relevant market for the purposes of Union competition law (‘Revised Notice’).
CJEU deliberates on the distinction between the issuance of E-money and payment services
Introduction Following AG Sánchez-Bordona’s opinion last October, the European Court of Justice (“ECJ”) delivered on 22 February 2024,
MFSA sends letter to management bodies about its 2024 DORA ambitions
DORA (the Digital Operational Resilience Act or Regulation 2022/2554) and the DORA Amending Directive (Directive 2022/2556) shall apply from 17 January 2025.