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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Malta > Legal Developments > Corporate & Commercial > Law firm and leading lawyer rankings

Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Vacancy - Senior Corporate Lawyer

The Senior Corporate Lawyer, who will be reporting to Partners, will be working with both the firm’s legal team as well as the financial services team. The successful candidate will be requested to show initiative, take on certain responsibilities within the firm, work in a multinational environment and will immediately be given the opportunity to further advance their career within the law firm.

Pharma no longer under the Competition radar

Author: Dr. Gayle Kimberley

The use of competition law to regulate the pharmaceutical industry is beginning to see a new impetus. While traditionally competition authorities struggled to use competition law to address the pharmaceutical sector’s practices, EU legislators have given a clear political signal that something needs to be done to address anti-competitive practices of pharmaceutical companies which, they believe, are endangering patients’ access to affordable and innovative essential medicines.

General Good Provisions applicable to European insurance undertakings passporting in Malta.

MFSA Issues Note for Information on the General Good Provisions Applicable to European Insurance Undertakings Passporting in Malta

UK CFC rules in breach of Article 107 TFEU

On the 2nd April 2019 the European Commission concluded its high-profile investigation into a UK tax scheme for the intra-group financing of multinationals. The investigation was opened in October 2017 and is a way of ensuring that all companies "pay their fair share of tax".

Employee Share Schemes

Employee Share Schemes.

Employee share schemes have not been as widely used in Malta as they have in some of our European neighbours. However, in general, companies use employee share schemes to attract, retain and reward talent by offering their employees a share in the success they help to create in the company. They provide a form of cash free reward and/or remuneration for employers as well as align the interests of employees with those of the company's shareholders to enhance performance and the company's success.

Amendments to the Family Business Act Come Into Force

Changes to the Family Business Act provide further clarity on the status of family businesses established in Malta.

Regulations to Aid Undertakings Providing Professional Training to Employees

Financial aid to undertakings which train their employees.

European Parliament Adopts a Resolution on the Restitution of Plundered Artwork

A potential new law on plundered art and cultural artefacts.

EU Company Law to be Adapted to the Digital Era

The EU has announced a draft directive to facilitate company formations and other company matters entirely online.

Regulations to Relieve Stamp Duty on Transfers of Business Property

Stamp Duty relief relating to transfers of business property extended to 31st December 2019.

Establishment of Land Registration Agency

A new agency has been established to carry out the functions and duties of public administration in relation to land and condominium registration.

Extension of Consultation Period

Maltese law allows for the continuation of foreign foundations and associations in Malta.

Cross-border insolvency: making a case of harmonised insolvency laws across the EU

Cross-border insolvency law has been gaining importance in the EU’s legal system over the past few decades. Harmonising insolvency laws is a difficult process as the legal framework interacts with a myriad of domestic laws. 

The Contemporary Company Secretary

Although constantly evolving, in more recent years, the role of the Company Secretary has undergone a significant shift both in the way it is perceived externally and also in its actual fulfilment within an organisation. Whereas historically defined rather restrictively as mainly administrative in nature, the Company Secretary is now expected to fulfil a much broader brief. This change has mostly come about as a result of the need for a more effective corporate governance framework which promotes increased transparency and accountability within the organisation. In the wake of corporate scandals the likes of Maxwell, Enron and Polly Peck spanning over the last few decades, many changes have been brought about in the corporate field across different jurisdictions.

The Key Employee Initiative Launched - A Fast Tracked Single Permit Scheme

Identity Malta Agency launched the Key Employee Initiative (KEI) providing a fast-tracked service to highly-specialized Third-Country Nationals who are employed in Malta. The scheme will facilitate the issuing of work/residence permits to prospective key employees within five working days from the date of submission of the applications.

New Individual Investor Programme Agency set up in Malta

Legal Notice 384 of 2018, Individual Investor Programme of the Republic of Malta (Amendment) Regulations, 2018, and Legal Notice 385 of 2018, Malta Individual Investor Programme Agency (Establishment) (Amendment) Order, 2018 were published on the 16th November 2018 in the Government Gazette, with the aim of setting up a new and separate agency which will be responsible for the Malta citizenship by investment programme. 

The Implications of the Constitutional Court Decision in Thake v Kummissjoni Elettorali

November 2018 - Corporate & Commercial. Legal Developments by Mamo TCV Advocates.

More articles by this firm.

The Implications of the Constitutional Court Decision in Thake v Kummissjoni Elettorali on the Proposed Amendments to the Competition Act and Other Related Legislation

Utmost Good Faith in Insurance Contracts

November 2018 - Corporate & Commercial. Legal Developments by Mamo TCV Advocates.

More articles by this firm.

The principle of utmost good faith in insurance contracts applies not only at the moment of conclusion of the contract but also throughout the course of the performance of such contract.

Unfair Trading Practices in the Food Industry

November 2018 - Corporate & Commercial. Legal Developments by Mamo TCV Advocates.

More articles by this firm.

European Commission issues a proposal for a Directive on unfair trading practices to tackle power imbalances in business-to-business relationships in the food supply chain.

Analysing the major amendments to be brought about by The Fifth Anti-Money Laundering Directive

October 2018 - Corporate & Commercial. Legal Developments by Mamo TCV Advocates.

More articles by this firm.

Analysing the major amendments to be brought about by The Fifth Anti-Money Laundering Directive

Publication of the Insurance Distribution Act and Insurance Distribution Rules

The Insurance Distribution Rules published by the MFSA come into force as of 1st October 2018.

EIOPA Opinion on the solvency position of insurers and reinsurers in the light of Brexit

EIOPA issues an Opinion on the solvency position of insurers and reinsurers in the light of Brexit.

The European Commission proposes to amend the Motor Insurance Directive

The European Commission proposes to strengthen EU rules on motor insurance to better protect victims of motor vehicle accidents and improve the rights of insurance policyholders.

Social Networks: When are you a consumer?

In Case C-498/16 Maximilian Schrems v Facebook Ireland Limited (nyr, 25 January 2018), the Court of Justice of the European Union (CJEU) had to decide when an individual who uses a social network for different purposes qualifies as a consumer.

Postponement of the applicability of the Insurance Distribution Directive

On 14 March 2018, the European Parliament and the Council of the European Union adopted Directive 2018/411 postponing the application of the Insurance Distribution Directive ('IDD') to 1 October 2018. 

The Rights Granted To Minority Shareholders Under The Maltese Companies Act

February 2018 - Corporate & Commercial. Legal Developments by GVZH Advocates.

More articles by this firm.

“The rights of minority shareholders are an important and rapidly developing branch of law. It raises difficult questions of principle: the conflicts between the letter and the spirit of the company’s constitution; between the sanctity of the bargain between shareholders embodied in the articles and unfair treatment; between giving a remedy which is effective and allowing it to become an institution of abuse; between the attainment of fairness and the amount of money parties can spend on litigation”.[1]

UBO Registry: New Reporting Requirements for Companies and Trusts

February 2018 - Corporate & Commercial. Legal Developments by Mamo TCV Advocates.

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New reporting requirements under the Companies Act (Register of Beneficial Owners) Regulations and the Trusts and Trustees Act (Register of Beneficial Owners) Regulations.

New Managing Partner at Mamo TCV Advocates

December 2017 - Corporate & Commercial. Legal Developments by Mamo TCV Advocates.

More articles by this firm.

Mamo TCV Advocates has announced that Dr Michael Psaila will be taking over the role of managing partner of the firm from Prof Andrew Muscat with effect from 1st November, 2017. Prof Muscat will continue to lead the firm's corporate and banking and finance departments.

LICENCE TO SKILL – AN OUTLINE OF MALTA’S REGULATION OF SKILL GAMES

February 2017 - Corporate & Commercial. Legal Developments by GVZH Advocates.

More articles by this firm.

Gambling, from a legal and policy perspective, has been consistently defined by reference to the constitutive elements of involving a monetary consideration, an element of chance, and a prize having some inherent value. Although definitions can vary significantly from one jurisdiction to another, the general consensus has been that a game or scheme that requires players to stake something of value for a prize that is awarded due to the outcome of an uncertain event should be treated as “gambling.”

GAPSME: GENERAL ACCOUNTING PRINCIPLES FOR SMALL AND MEDIUM ENTERPRISES

November 2016 - Corporate & Commercial. Legal Developments by GVZH Advocates.

More articles by this firm.

The EU Single Accounting Directive 2013/34/EU, which repealed the 4th and 7th Accounting Directives on Individual and Consolidated Accounts, introduced a simplified procedure for financial statement reporting. This Directive was transposed into Maltese law via legal notice 289 of 2015 in virtue of the ministerial powers conferred on the Minister of Finance in virtue of the Accountancy Professions Act (Chap. 281 of the Laws of Malta).

What to Expect from the Seller when Making an Online Purchase

As 2015 comes to a close, the e-commerce industry is expected to make €185.39 billion this year. In the EU, the average online shopper spends €970 yearly, and these numbers continue to grow annually. EU Directive 2011/83/EU details the rights of EU consumers when shopping online and was transposed into Maltese law through Legal Notice 439 of 2013.

I-Gaming in Malta: Reliable Laws, Fiscal Advantages, Stable Environment

As the first jurisdiction in the European Union (EU) that introduced regulated remote gaming, with an average of a hundred new applications a year and being the largest EU i-gaming jurisdiction, Malta's success in the i-gaming arena is undisputed. That said, whilst Malta's history, sun and sea might be a good reason for tourists to come to the island, they are surely complementary but not the sole reasons to attract prospective i-gaming operators.  Indeed, to the i-gaming world, Malta represents more than that.

 

Maltese Depositary Liability Post-AIFMD

With the transposition of the Alternative Investment Fund Managers Directive ("AIFMD") in the offing, analysis on the transformation and legal implications of such on the role of the Depositary as a key and core service provider to Alternative Investment Funds ("AIFs") is significant, given the central function and responsibility this position was conferred within this industry. 

An Analysis of the Definition of Investment Advice under Maltese Law

Investment Advice: The Maltese Perspective

Investment advice a kind of investment service which may be provided by an investment service provider licensed by the Malta Financial Services Authority (MFSA) under the Investment Services Act (ISA). With the exception of a category 4 licence holder.

Investment Advice is defined in the First Schedule to the Investment Services Act (ISA) in the following manner:

‘Giving, offering or agreeing to give, to persons in their capacity as investors or potential investors or as agent for an investor or potential investor, a personal recommendation in respect of one or more transactions relating to one or more instruments.'

A key element of the definition[2] is a ‘personal recommendation', which is defined as a suggestion which is portrayed as suitable for the person to whom it is addressed, or which is based on a consideration of the circumstances of the recipient. Maltese law also provides for an exception to the effect that a recommendation issued exclusively through distribution channels or to the public does not constitute a personal recommendation.

Alternative Investment Fund Managers Directive (AIFMD) Implementation Takes Shape in Malta

Introduction

The Alternative Investment Fund Managers Directive ("AIFMD" or "the Directive") has been in discussion since its announcement in April of 2009, but the detail of its implementation has, until fairly recently, been somewhat unclear. However, following the issuing of a number of consultation documents and other instruments there is now far more clarity on the subject. This article will seek to provide an overview of the various instruments by means of which the Directive is to be introduced into Maltese law and will also briefly touch upon the effect that these changes will have on the structure of Maltese funds legislation.  

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