Pedelecs do not qualify as ‘vehicles’ – the ECJ clarifies
On 12 October 2023, the European Court of Justice (the “ECJ”) responded to a request for preliminary ruling from the Belgian Court of Cassation (the “Referring Court”).
The FIAU issues a Consultation Document on the Implementing Procedures – Part II for Collective Investment Schemes and Related Service Providers
The FIAU has today published a Consultation Document on the Implementing Procedures – Part II for Collective Investment Schemes (‘CISs’) and other related service providers (“Service Providers”).
Malta M&A Watch: Update on Foreign Direct Investment in the EU
On 19 October 2023, the European Commission (the ‘‘Commission’’) published its third annual report (the ‘‘Report’’) on Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union (the ‘‘FDI Regulation’’).
The GCEU declares the Belgian Excess Profits Tax Scheme as breaching the EU Rules on State Aid
On 20 September 2023, the General Court of the European Union (“GCEU”), in the case of Belgium v. Commission (Case T-131/16 RENV), in direct contrast to its initial decision in 2019, confirmed the findings reached by the European Commission (“Commission”) in 2016.
EU’s Carbon Border Adjustment Mechanism comes into effect
On the 1 October 2023, the European Union’s Carbon Border Adjustment Mechanism (“CBAM”) entered into effect, starting with a transitional phase that runs until the end of 2025 (the Transitional Period”).
Understanding DORA: Strengthening Europe’s Digital Infrastructure
Introduction In an increasingly digitized world, where reliance on digital services and technology has become paramount, ensuring the resilience and security of critical infrastructure is of utmost importance.
What is the Bletchley Declaration and why does it matter for AI safety?
Background On the 1st & 2nd November, the world’s first AI Security Summit was hosted within the UK. Representatives from 28 nations, including the USA, China, France and Japan, all convened in Bletchley Park to discuss the implications of the rapid advancement of highly capable general purpose AI models known as ‘Frontier AI’.
AG sets out the delineation between a payment service and e-money issuance
In the context of a request for preliminary ruling brought before the Court of Justice of the European Union (the “CJEU”) in the case of ABC Projektai UAB v. Lietuvos banks (C-661/22),
MFSA updates the Corporate Governance Manual for Directors of Collective Investment Schemes
On the 30th of September 2023, the Malta Financial Services Authority (the“MFSA”) issued a Circular wherein it announced the publication of a revamped version of its Corporate Governance Manual for Directors of Collective Investment Schemes.
MFSA issues Circular making the appointment of Independent Non-Executive Directors mandatory for Insurance Agents, Insurance Brokers and Retirement Scheme Administrators
On November 7th, 2023, the Malta Financial Services Authority (“MFSA”) issued a Circular addressing the structure and composition of the Board of Directors of certain licensed entities (the “Circular”).