ESMA issues revised guidelines on MiFID II product governance requirements
On 27 March 2023, the European Securities and Markets Authority (“ESMA”) published a Final Report: Guidelines on MiFID II product governance requirements (the “Final Report”).
ESMA postpones annual IFRS amendment of ESEF to 2024
On the 10th of May 2023, ESMA announced its decision to postpone to 2024 the 2023 annual IFRS amendment of the European Single Electronic Format (ESEF) Regulatory Technical Standard (RTS).
The inclusion of maritime shipping activities in the EU Emission Trading System Directive
The European Parliament and the Council of the European Union reached a provisional agreement on the 17th of December 2022,
EU directive relating to corporate cross-border mobility transposed into Maltese law
On 7th February 2023, three new regulations were published which transposed into Maltese law EU Directive No. 2019/2121 (the “Directive”) amending EU Directive No. 2017/1132 on cross-border conversions,
Going green: How Malta’s economy is embracing sustainability
Sustainability has been growing in importance within the financial sector, particularly over the past few years.
The non-disclosure of material facts in insurance contracts
In the recent case Malcolm Vassallo (the “Plaintiff”) vs. Citadel Insurance p.l.c (the “Defendant”) decided on the 1 March 2023,
One step closer to establishing a European Green Bond Standard
On the 1st of March 2023, EU lawmakers announced an agreement on the creation of a European Green Bond Standard (EuGB).
The inclusion of maritime shipping activities in the EU Emission Trading System Directive
The European Parliament and the Council of the European Union reached a provisional agreement on the 17th of December 2022, whereby they adopted the European Commission’s proposal to include maritime transport activities in the existing ‘Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance …
The non-disclosure of material facts in insurance contracts
In the recent case Malcolm Vassallo (the “Plaintiff”) vs. Citadel Insurance p.l.c (the “Defendant”) decided on the 1 March 2023, the Honourable Judge Lawrence Mintoff was requested to determine and examine what constitutes a “material fact” and the “non-disclosure of a material fact” when purchasing an insurance policy. The case was decided before the Court …
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EIOPA Supervisory Statement on the use of governance arrangements in third countries to perform functions or activities
On the 3rd February 2023, the European Insurance and Occupational Pensions Authority (EIOPA) issued a Supervisory Statement on the use of governance arrangements in third countries to perform functions or activities (“Supervisory Statement”). The EIOPA Supervisory Statement follows a public consultation which was launched by the European Authority on the 29th July 2022 relating to the use …