Companies Act – Register of Beneficial Owners

  On the 1st January 2018, new regulations came into force, applicable to companies except where:   They are listed on a regulated market and disclosure is already required under the appropriate regulations; or Companies where shareholders are all natural persons disclosed to the companies registrar.   The First Schedule sets out a form which is to be delivered together with the M&As whenever a new company is being set up. Declarations must be submitted for each beneficial owner and … Continued

Opinion: A Commercial Court for Malta ?

Earlier in 2017, the Ministry for Justice, Culture and Local Government held a public consultation, titled “Setting up of the Civil Court, First Hall, Commercial Section“.  This was concluded in July 2017. While we have not been active in commercial litigation for a relatively long while, we still believe that this is the way forward.  Questions included whether there should be a commercial section within the civil arm of the Maltese courts, and whether the remit should be wider than matters … Continued

Anti-Money Laundering – New Rules in Force

The 4th Anti Money Laundering Directive (AMLD 4) is aimed at preventing the use of the financial system for money laundering or financing of terrorism, based on the principle that illicit money being channeled through the financial system cause damage to the stability, integrity and reputation of the financial sector – not only of the Member State where this occurs but also that of the entire Union.     The crimes in question have developed with time, so that it … Continued

Google – EU competition law breach accusations

The European Commission sent a statement of objections to the tech firm, alleging that it has breached EU competition law. Google is accused of placing onerous requirements on firms using Android and stifling competition. Google has 12 weeks within which to reply and, if found to be abusing its dominant position, could face large fines and have to change its practices with respect to companies opting to obtain a licence to use its apps on their products (smartphones). Read the … Continued