Topic
Company law & compliance
Companies Act changes, beneficial ownership, anti-money-laundering rules and statutory filings.
52 news items and articles, newest first
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CFR Notice – Disclosure of Beneficial Owners
Further to the changes relative to the beneficial ownership register brought about by the 5th AML Directive), transposed into Maltese legislation by means of Legal Notice 26 of 2020 (Prevention of Money Laundering and…
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COVID 19 – Extension of period for filing FIAU’s Risk Evaluation Questionnaire (REQ)
As part of the measures taken by various Government authorities in response to the Coronavirus outbreak, the FIAU has, on the 16 March 2020, announced that it will be granting subject persons an extension up to 4 May,…
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The 6th EU Anti-Money Laundering Directive
Money laundering is a global issue that has the potential to undermine the integrity of any business, as well as the financial sector as a whole. Since many years, the EU has taken part in drawing up international AML…
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The Effect of the 5th AML Directive on Tax Practitioners
January 2020 marked the transposition of the 5th AML Directive (Anti-money Laundering Directive). After the implementation of the 4th AML Directive, the European Union faced new challenges mostly due to the innovative…
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Amendments to the Register of Beneficial Owners Regulations
By means of LN 158 of 2019, the Government of Malta has on the 12th July 2019, published amendments to the Companies Act (Register of Beneficial Owners) Regulations. The amendments seek to transpose into Maltese Law,…
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New Philanthropic Organisations Exempt from Income Tax
By means of LN 167 of 2019, the Government of Malta has named five new organisations as being engaged in philanthropic work, and thus exempt from income tax in terms of Article 12(1)(e) of the Income Tax Act. The…
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FIAU issues a revised version of the Implementing Procedures Part 1
The FIAU has recently issued a revised version of the Implementing Procedures Part 1. The revised version is effective as from 19th July 2019 and reflects a series of legislative amendments to the Prevention of Money…
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Voluntary organisations – Declaration of due diligence
All organisations enrolled with the Commissioner for Voluntary Organisations have until the 31st of July 2019 to submit the relevant Declaration of Due Diligence with the Office of the Commissioner for Voluntary…
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MFSA issues document on AML and CFT strategy
On 4th February, the Malta Financial Services Authority issued a document outlining its strategic approach towards AML and CFT supervision, including its implementation of a National AML/CFT Strategy, from a firm’s…
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The FIAU issues implementing procedures for the remote gaming sector
The Financial Intelligence Analysis Unit (GIAU) has today issued the Implementing Procedures – Part II addressed to the remote gaming sector. This document focuses, and provides guidance, on certain aspects of the…
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ACT to organise a seminar in Gozo on the General Data Protection Regulation (GDPR)
ACT will be organising a second seminar on the GDPR, this time in Gozo. This will be organized in collaboration with the Gozo Business Chamber (GBC) on the 17th April 2018 at 2pm. The aim of the seminar is to provide…
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The FIAU and the MGA publish a revised consultation document on the application of AML and CFT obligations to the remote gaming sector
The Financial Intelligence Analysis Unit (FIAU) and the Malta Gaming Authority (MGA) have issued a revised Consultation Document on the application of anti-money laundering and combatting the funding of terrorism…
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Malta introduces the Register of Beneficial Owners of Companies
The Government of Malta has on the 20th December 2017 issued new rules (LN 374 of 2017), the purpose of which is to implement the relevant provisions on beneficial ownership information of the EU Directive 2015/849. The…
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The General Data Protection Regulation (GDPR) – Are you ready?
The GDPR is a new EU data protection law that will come into effect on the 25th May 2018 and will be replacing the current Directive (95/46/EC). The aim of the GDPR is to protect citizens’ private information and to…
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EU General Data Protection Regulation (GDPR) – The Main Changes
The EU General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC and is designed to harmonize data privacy laws across Europe, to protect and empower all EU citizens data privacy and to…
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Revision of the Prevention of Money Laundering and Funding of Terrorism Regulations
The Financial Intelligence Analysis Unit (“FIAU”) has on the 6th July 2017 issued a revised version of the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”) for consultation. This revised…
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New philanthropic organizations exempt from income tax
By means of Legal Notice 65 of 2017, the Minister of Finance has named the following organizations engaged in philanthropic work as being exempt from income tax in terms of Article 12(1)(e) of the Income Tax Act.…
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Transfer of Registered Office of a European Company (SE)
Introduction By means of Legal Notice 19 of 2017, the Maltese Minister of Finance has issued new regulations relating to the transfer of the registered office of a European Company, also referred to as Societas Europaea…
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The Proposed 5th Anti-Money Laundering Directive
The European Commission (EC) has proposed amendments to the Fourth Anti-Money Laundering Directive (4th AMLD) to further strengthen EU rules on anti-money laundering, to counter terrorist financing and increase…
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Customer Due Diligence obligations – The Risk Based Approach
The 4th EU anti-money laundering directive will be transposed into Maltese legislation in 2017. It will upgrade our existing laws and regulations in their fight against money laundering and terrorist financing. By means…
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EC issues new proposals on AML/CFT
The European commission (EC) has on the 5th July 2016 issued new proposals to amend the current framework in its fight against organized crime, corruption and tax evasion. These proposals will amend EU Directive…
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EU-Wide interconnection of Insolvency Registers
The European Commission has recognised the need to facilitate cross-border insolvency procedures by making access to information on insolvency available through a single point of reference. The European Commission has…