After multiple directives, several high-profile money laundering scandals, and numerous policy papers, the evidence is clear – money laundering remains an undiminished threat within the EU. The European Commission summarises the consequences as follows: criminals and terrorists have a sustained means to jeopardise public security, the...
The International Monetary Fund has praised Malta’s response to the Covid-19 pandemic but warned Malta of the negative impact of its greylisting by the Financial Action Task Force. In a statement, the government referred to the praise received but did not mention the negative comments made...
The Government will present its budget for 2021-2022 on 11th October, Prime Minister Robert Abela has confirmed. Speaking during a radio interview with the Labour Party’s ONE outlet, Dr Abela said that the Government is working hard on the budget and that it will be released...
Entities agree to share information on ultimate beneficial ownership The Malta Business Registry and the Financial Intelligence Analysis Unit have signed an agreement to share information and collaborate on investigations into the ultimate beneficial ownership of financial structures, in a bid to get Malta off an...
The Institute of Financial Services Practitioners tackles a large number of the many and varied issues facing the financial services sector through its subcommittees, led by a Council member and including members with the knowledge and experience needed to deal with the specialised areas of concern. This...
Tonio Zarb, a partner at KPMG, was elected IFSP President following the Institute’s AGM held on 28 July 2021. He takes over the position from Wayne Pisani, who has been President for the past three years. The AGM, attended by 100 members of the Institute of...
Gavin will take over from Dr Christopher P. Buttigieg and will chair the regulator’s Executive Committee The Malta Financial Services Authority (MFSA) Board of Governors announced that it has secured Joseph Gavin as its new Chief Executive Officer, effective from September 2021. Finance Magnates recently identified in...
The Maltese regulator detailed that gifts should not be of substantial value, among other factors The Malta Financial Services Authority (MFSA) issued a notice targeting regulated entities under its jurisdiction on Friday, detailing a series of guidelines about obligations to comply when promoting rewards and giveaways....
Malta needs to start scaling back measures aimed at easing the economic impact of COVID-19 but must avoid “cliff effects” and plan for the future, assessors from the IMF have told the government. A team from the International Monetary Fund met with government officials and heads of local...
A contribution appearing in another section of the press and penned by a representative of the law firm Ganado Advocates described a judgment issued by the Court of Justice of the European Union regarding the requirement imposed by a German institution to its customers to...