Monthly Archives: December 2017

Opinion: A Commercial Court for Malta ?

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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

FIAU Press Release on Penalties

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Following the coming into force of the Various Financial Services Laws (Amendment) Act, 2017 (Act XXVIII of 2017) on the  1st December 2017, publication of administrative penalties imposed by the Financial Intelligence Analysis Unit (“FIAU”) for one or more contraventions of the Prevention of Money Laundering Act (“PMLA”) and/or of the Prevention of Money Laundering and Funding of Terrorism Regulations no longer falls under Article 13A of the PMLA but by the new Article 13C. Article 13C now provides for the … Continued

Public Holidays for 2018

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We wish to advise that the following National and Public Holidays are set for the coming year, 2018:   January 1, Monday                              New Year’s Day February 10, Saturday                        Feast of St. Paul’s Shipwreck March 19, Monday                              Feast of St. Joseph March 30, … Continued

Anti-Money Laundering – New Rules in Force

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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