Category: Legal Developments

  • EU Accession to the European Convention on Human Rights

    EU Accession to the European Convention on Human Rights

    The European Union has developed one of the world’s most sophisticated systems for the protection of fundamental rights. Yet one significant constitutional gap remains: although every EU Member State is bound by the European Convention on Human Rights, the European Union itself is not yet a party to it.

    The proposed accession of the EU to the Convention seeks to close that gap. It would make the Union directly accountable under the Convention and subject the acts of its institutions to external review by the European Court of Human Rights in Strasbourg.

    After decades of legal and institutional difficulty, the accession process has again reached a decisive stage.

    Two European systems of rights protection

    The European Convention on Human Rights belongs to the Council of Europe, which is a separate international organisation from the European Union. The Convention is interpreted and enforced by the European Court of Human Rights.

    Within the EU legal order, fundamental rights are protected through several sources, including:

    • the Charter of Fundamental Rights of the European Union;
    • the general principles of EU law;
    • the constitutional traditions common to the Member States; and
    • the jurisprudence of the Court of Justice of the European Union.

    The two systems are closely connected but remain legally distinct. The Court of Justice of the European Union interprets EU law, while the European Court of Human Rights supervises compliance with the Convention.

    All 27 EU Member States are parties to the Convention. However, where an alleged violation flows directly from an act of an EU institution rather than from the conduct of an individual Member State, the EU cannot presently be brought before the Strasbourg Court in its own name.

    That is the accountability gap which accession is intended to address.

    Accession is a Treaty obligation

    EU accession to the Convention is not merely a political aspiration. Article 6(2) of the Treaty on European Union provides that the Union “shall accede” to the European Convention on Human Rights.

    However, accession is constitutionally complex. The EU is not a State, and its powers are divided between the Union and its Member States. Any accession mechanism must therefore preserve the particular characteristics of EU law while allowing effective external supervision under the Convention.

    An initial draft accession agreement was reached in 2013. In its landmark Opinion 2/13, delivered in December 2014, the Court of Justice concluded that the agreement was incompatible with EU law.

    The Court raised several concerns, including:

    • the autonomy and primacy of EU law;
    • the relationship between the Convention and the EU Charter;
    • the principle of mutual trust between Member States;
    • the allocation of responsibility between the EU and its Member States;
    • the proposed co-respondent mechanism;
    • the Court of Justice’s opportunity to examine questions of EU law before the Strasbourg Court; and
    • judicial review of measures adopted under the EU’s Common Foreign and Security Policy.

    The Opinion effectively halted accession for several years.

    The revised accession agreement

    Negotiations resumed in 2020 through the Council of Europe’s “46+1” Group, comprising the 46 Council of Europe Member States and the European Union. See the Council of Europe’s accession agreement.

    In March 2023, the negotiating group reached provisional agreement on a revised package of accession instruments. The revised framework seeks to respond to most of the objections identified by the Court of Justice in Opinion 2/13.

    Among its most important features is a co-respondent mechanism. This would allow the EU and one or more Member States to participate together in proceedings where responsibility may arise from a combination of EU law and national implementation.

    The agreement also provides for the prior involvement of the Court of Justice where it has not previously had an opportunity to consider the relevant issue of EU law.

    These mechanisms are intended to preserve the internal division of powers within the EU while ensuring that applicants are not required to unravel that division before seeking protection.

    One particularly difficult matter has remained: the treatment of acts adopted within the Common Foreign and Security Policy. In certain areas, the Court of Justice has only limited jurisdiction. Accession raises the possibility that the Strasbourg Court could review EU conduct which the EU’s own court cannot fully examine.

    That tension sits at the heart of the continuing debate over the autonomy of EU law and effective human-rights protection.

    Opinion 1/25: the next constitutional test

    In November 2025, the European Commission submitted the revised accession agreement to the Court of Justice for an opinion under Article 218(11) of the Treaty on the Functioning of the European Union.

    The resulting Opinion procedure 1/25 represents the next major constitutional test for accession.

    The Court must determine whether the revised arrangements are compatible with the EU Treaties. A favourable opinion would remove one of the most important legal barriers to accession. An unfavourable opinion could require further amendments, prolonging a process which has already extended across several decades.

    Even if the Court approves the agreement, accession will not occur automatically. The final instruments must still pass through the necessary EU and Council of Europe procedures, including approval and ratification requirements.

    The process is therefore advancing, but the final destination has not yet been reached.

    What would accession change?

    Accession would not replace the EU Charter or transfer ultimate authority over EU law to the Strasbourg Court. The Court of Justice would remain the final authority on the interpretation of EU law.

    The European Court of Human Rights would instead examine whether conduct attributable to the EU complies with the minimum standards established by the Convention.

    In practical terms, accession would:

    • bind the EU directly under international law to the Convention;
    • make the EU answerable before the European Court of Human Rights;
    • allow applicants, after satisfying the applicable admissibility requirements, to challenge conduct attributable to EU institutions;
    • clarify responsibility in cases involving both EU measures and national implementation;
    • strengthen consistency between the EU and Convention systems; and
    • reinforce the credibility of the EU when requiring Member States and third countries to comply with human-rights standards.

    This is important because the EU now regulates areas with significant consequences for individual rights. These include migration, border control, sanctions, data protection, competition enforcement, employment, financial regulation, aviation security and maritime surveillance.

    Accession would not turn every commercial or regulatory dispute into a human-rights case. However, it would add another layer of accountability where EU action affects privacy, property, due process, non-discrimination or access to an effective remedy.

    Why accession matters beyond constitutional theory

    The significance of accession extends beyond the relationship between two European courts.

    Fundamental rights increasingly influence the design and enforcement of regulation. Businesses operating in regulated sectors already encounter rights-based considerations in administrative investigations, licensing decisions, sanctions, data processing and access to judicial review.

    For public authorities, accession would reinforce the need to integrate Convention standards into EU decision-making from the outset. For businesses and individuals, it may eventually provide a clearer route for determining responsibility where a contested measure arises from the interaction between EU law and national action.

    At the institutional level, accession would also strengthen the EU’s external position. A Union which promotes democracy, human rights and the rule of law internationally must be prepared to submit its own institutions to independent scrutiny.

    That is not a surrender of legal autonomy. It is the practical expression of accountability.

    A long voyage towards a single European legal space

    EU accession to the European Convention on Human Rights has been discussed since the 1970s. The legal architecture is intricate, and the competing institutional concerns are genuine.

    Nevertheless, the central principle is relatively straightforward: no public authority exercising extensive regulatory power should remain outside an effective system of external human-rights review.

    Opinion 1/25 may determine whether Europe is finally ready to complete that architecture. Accession will not eliminate every difference between Luxembourg and Strasbourg, nor should it. It would, however, bring the EU within the same external human-rights framework to which all its Member States already belong.

    After decades of negotiation, Europe may at last be approaching the point where its commitment to fundamental rights is matched by an equally comprehensive system of accountability.

  • Yachting Update: Commercial Yacht Code

    Yachting Update: Commercial Yacht Code

    Transport Malta has issued a new Commercial Yacht Code, applicable as of the 01 July 2025. This comes after months consultation and effort to bring together an updated standard for the industry.

    🛥️ Scope & Applicability

    • Applies to all commercial yachts over 24 m in length, with any gross tonnage, replacing CYC 2020.
    • Small Commercial Yacht Code (sCYC) remains in effect for yachts under 24 m.

    🔍 Key Updates & Enhancements

    1. Regulatory Alignment & Streamlining

    • Reflects international safety standards, updated technologies, and industry practices.
    • Aims to streamline the regulatory framework, making compliance more operationally effective.

    2. Enhanced Safety Measures

    • Greater emphasis on safety systems, including improvements in navigation, firefighting, and structural integrity (though specific clauses are in the full Code).

    3. Environmental & Operational Efficiency

    • Introduces stricter provisions on pollution prevention, waste handling, and fuel safety for onboard aviation refuelling, reflecting modern environmental best practices.

    4. Technological Advancements

    • Broadened acceptance and specific requirements for battery-powered and hybrid vessels, with mandatory classification throughout certification.
    • Updated provisions for helidecks, including CCTV coverage and fuel handling protocols.

    5. Surveying & Certification Regime

    • Maintains existing structure: initial, intermediate, and annual surveys for vessels ≥ 24 m, renewing every five years.
    • Potential allowance for alternative compliance agreements, enhancing flexibility.

    6. Crew & Operational Management

    • While details are in the Code, improved clarity is suggested for manning, training, and crew welfare.

    🧭 Why This Matters

    • Regulatory consistency: Harmonises Malta’s code with global standards and advances in marine design.
    • Ongoing compliance: Existing vessels are given a clear update pathway, minimizing disruptions.
    • Environmental leadership: Demonstrates Malta’s dedication to marine ecology through enhanced pollution controls.
    • Tech readiness: Encourages adoption of eco-friendly propulsion and modern safety systems.

    ✅ What You Should Do:

    1. Familiarize yourself with the full CYC 2025 document, especially chapters relevant to safety, environment, and systems integration.
    2. Schedule your vessel’s first renewal survey after 31 Dec 2025 to ensure compliance.
    3. Discuss with your surveyor/RO about updated battery and helideck requirements, classification needs, and operational policies.
    4. Follow this page, or our profile on LinkedIn, or see what Geraldine is up to in the yachting world.
    New Malta commercial yacht code is in force from 01 July 2025
  • Launching Asteria Advisory

    Launching Asteria Advisory

    Asteria Advisory is pleased to announce its official launch as a boutique legal practice. Areas of specialisation include marine and aviation law, as well as tailored commercial legal services. With a commitment to Building Bridges, Asteria Advisory connects clients with the legal solutions, industry professionals, and opportunities necessary for success.

    Asteria Advisory was formerly operated as a corporate services provider under the name of Asteria Management Limited, which is no longer in existence.

    The firm is managed by Dr Geraldine Spiteri, founder, who is also a Malta-warranted advocate of 20 years’ standing.

    Legal Solutions That Move Your Business Forward

    With a strong focus on the maritime and aviation law sectors, Asteria Advisory provides expert legal guidance in ship, yacht and aircraft registration, asset management, regulatory compliance, and business setup. Whether working with shipowners, operators, investors, or aviation professionals, or helping the yacht or jet owner to manage the needs of these highly specialised assets, we ensure a seamless and efficient approach to navigating complex legal and regulatory frameworks.

    We also provide general legal, advisory and consultancy services to businesses.

    📅 Official launch: March 28, 2025—a strategic date chosen to mark a new chapter of growth and opportunity.

    On this day Dr Geraldine Spiteri will also attend and moderate the Mediterranean Business Aviation conference in Malta.

    Clients and industry professionals are invited to connect and explore how Asteria Advisory can provide expert guidance in the marine and aviation sectors.

    🔹 For inquiries: Speak to Dr Geraldine Spiteri – gs@asteria.mt – or use our Contact form.

    🔹 For Updates: We will continue to update our news feed with posts of interest.

    Asteria Logo
    A – Asteria;s Logo


  • The Women-In-Maritime Initiative

    A few years ago, I gave a speech in an IMO International Maritime Institute (IMLI) discussion on women in the maritime industry. The IMLI Board of Studies had given me a scholarship to read my masters in 2006 (completion in 2007) so this seemed a good opportunity to give something back.

    Today, I attended a similar-themed breakfast, She Leads the Seas. MaritimeMT, in Malta, organised this event as part of the MARMED project.

    This get-together focused on the opportunities for women in the shipping industry.

    MARMED

    The MARMED project is a part of ERASMUS+. It aims to bridge the gap between the existing needs and the current skillset of Maritime Clusters Managers.

    MARMED aims to look at upskilling of members of the industry. Other aims include:

    • Outlining an innovative professional profile for increased competitiveness of Maritime Clusters in the Mediterranean area; and
    • Overall, boosting innovation and sustainable growth in the Blue Economy sector.

    THE EVENT

    This in-person seminar included:

    • an outline of the project,
    • a discussion on the role of women in the maritime industry; and
    • a good overview of available opportunities.

    Women are still widely under-represented in the maritime industry. Only 22% of the industry workers are female. There are many actions that the industry can take to change this balance.

    The audience included IMLI students, various professionals and lecturers from the industry and officials from the Flag, Transport Malta.

    Participants of the meeting also touched upon Women in Transport – EU Platform for change. The objective of this Platform, launched on 27 November 2017, is to strengthen women’s employment and equal opportunities for women and men in the transport sector through the actions brought about by the Platform members. It will also serve as a forum to discuss and exchange good practices.

    REMEMBERING – INTERNATIONAL DAY FOR WOMEN IN SHIPPING

    The IMO Resolution A.1170(32) of 09 December 2021, established the 18th May as the IMO International Day for Women in Maritime.

  • OHSA – A New Law on Safety & Security at the Workplace

    The Occupational Health & Safety Authority (OHSA) has recently issued a leaflet to outline the basic tenets of the new law. In case you missed it or are not in Malta, here are the key points.

    Every worker counts and every worker can contribute to the safety and security of the place they work in. The main objectives of the new law are the following:

    1. Protecting mental and physical health of workers across all sectors
    2. Implementing stronger measures and mechanisms
    3. Fostering a prevention culture among workers and employers alike

    Key responsibilities:

    1. Responsibilities of the OHSA
      • Allocating more resources to operate effectively
      • Enhancing skills and competences of its own workforce
      • Introducing new legal measures for rapid intervention in high-risk situations
      • Modernising operational procedures for more effective oversight
      • Health & Safety Responsible Officer – when neccessary to receive reports and investigate, ensuring access for workers to continuous support at the workplace
      • Conducting life consultations nationwide to ensure sectoral improvements.
    2. Employer Liability
      • Risk and hazard identification
      • Assesment of impact of risks on workers’ health
      • Implementing necessary mesures to elimitate or control risks to workers’ health
      • Provide appropriate training and information to workers, based on their role
      • Ensuring competent supervision
    3. Employees’ Responsibilities
      • Cooperate with employer & team
      • Proper use of equipment supplied
      • Reporting of hazards
      • Engaging in continuous training
      • Adopting correct behaviour that does not endanger the team and themselves.

    The OHSA offers a helpline – 158 – for more information or any difficulties.

    If you are an employer seeking to draft your policies and procedures from this perspective and require assistance, contact us for a consultation. We can provide assistance with preparing your handbooks, policies and procedures, or provide a review based on the size of your operation and workforce.

  • Building Consumer Protection Capacity in the EU

    Insights from BEUC’s Consumer PRO Initiative

    The Consumer PRO motto, “Collaboration is Key,” serves as an important reminder for us all. In the ever-evolving landscape of consumer rights, collaboration is essential for fostering progress and protecting consumers. This was an essential task for building consumer protection capacity across the EU. Here are some insights into the Consumer Pro Initative launched by BEUC.

    BEUC is the umbrella group for 44 independent consumer organisations from 31 countries. Its main role is to represent these organisations to the EU institutions and defend the interests of European consumers. The acronym originates from its French name, ‘Bureau Européen des Unions de Consommateurs’.

    Capacity Building

    Capacity building has become increasingly vital in this field, especially as consumer protection laws continue to evolve. Recent legislative changes have been notably more favorable to consumers, while also providing clearer obligations for traders. These updates aim to harmonize consumer protection regulations across the EU, ensuring fairness and transparency in all consumer transactions.

    Key Training Sessions and Updates

    In 2020, a comprehensive training initiative was launched, focusing on general consumer protection and the evolving digital rights under EU law. By 2022, the program expanded to include the Representative Actions Directive, reinforcing the collective rights of consumers.

    The Consumer PRO initiative, led by the European Commission and EISMEA, was designed to build capacity within consumer organizations across the EU. Implemented by BEUC, this initiative aimed to foster knowledge sharing and collaboration among professionals in the field.

    The Best Practice Seminar: A Platform for Collaboration

    The Best Practice Seminar is a key element of this initiative, open to a wide range of participants, including consumer organizations, national authorities, and European Consumer Centres (ECCs) in the EU, Norway, and Iceland. The seminar also welcomes other consumer professionals eager to learn and collaborate.

    This seminar has been instrumental in enhancing the strategic planning of consumer law. Since 2020, two rounds of training have engaged over 2,000 consumer professionals, with participants receiving training either directly or through national seminars led by local trainers. Notably, the Czech Republic had the highest participation rate, while Malta, as a smaller jurisdiction, saw around 20 participants in 2020 and approximately 9 in 2022.

    Focus on Digital Rights and Collective Redress

    The 2020 training in Malta primarily focused on general consumer rights, with a brief session on digital rights. However, by 2022, digital rights received more in-depth attention due to increasing concerns about the lack of training and knowledge in this area. Additionally, a session on collective redress was introduced, though much of the legislation surrounding this remains unclear and underexplored.

    Key Themes: Celebrate, Cultivate, and Collaborate

    BEUC’s approach emphasises three core themes:

    • Celebrate: Recognizing the often-unsung daily efforts in consumer protection that are crucial to its success.
    • Cultivate: Fostering continuous learning and adapting to emerging challenges, such as the impact of AI on consumer rights. Inter-generational projects could help bridge the gap between traditional business practices and the evolving AI-driven landscape.
    • Collaborate: Encouraging cooperation among consumer professionals, organizations, and the BEUC to produce more meaningful results.

    Looking Ahead

    The Consumer PRO initiative has proven to be a vital tool for improving consumer law knowledge and building strong, collaborative networks across Europe. As we continue to navigate the evolving consumer protection landscape, we can expect more updates and opportunities for professionals to engage with this important work.

    Stay tuned for more updates on this crucial initiative! and contact Geraldine Spiteri if you require any information about this initative.

    📩 gs@asteria.mt

  • Sanctioned Russian Oligarch wins right to use yacht on the French Riviera

    A sanctioned Russian oligarch has won the right to use his yacht on the French Riviera. Rather, he has successfully challenged French customs due to a number of errors made in the procedure when they boarded the yacht.

    Originally published in 2022, this article discusses the legal complexities around asset control and EU sanctions. As of 2025, such cases remain highly relevant in the evolving landscape of international law and yacht management.

    The EU sanctions apply across EU member states. French customs authorities are reported to have failed to follow the correct procedures. The court ordered the release of the yacht.

    Read the article here.

    A superyacht lies at anchor.
Image taken from stock - (C) Shutterstock
    A superyacht – image from stock.

    Legal professionals from different parts of the world have argued that individuals facing such sanctions should succeed in these challenges. Assets are being seized without due process of law. Further, these seizures are taking effect without following any proper court process.

    Clearly, there could be a deprivation of the right to one’s own property, without the proper court case to establish whether anyone has committed a crime.

    These actions, merely on the basis that an individual has links to (in this case) the Russian government, appear to constitute a right about turn from the fundamental human right to property. This is arguable. The use of wealth to continue to back up the atrocities of war remains worrying. Sanctions of this type might be the only way to stop this practice.

    Asteria Advisory’s services include ship & yacht registration, and management & representatation for yachts. We also provide legal support on a more general basis.

  • MBR Publishes Regulatory Amendments

    Act LX of 2021 introduces various amendments to the Companies Act, to take into account the EU’s Digitalisation Directive (which deals with electronic filings).

    Additional duties are imposed on the Registrar of Companies and certain additional requirements are put into place for companies. Additional forms needed to be drawn up. The rules also provide for the appointment of directors and disqualification criteria.

    A person applying to be appointed as director of a company is required to sign the Memorandum of the company or to submit a declaration in writing to show explicit consent to be appointed director and to declare whether they are aware of any circumstances that could lead to his or her disqualification, both under Maltese law and under any of the laws of other EU Member States.

    Therefore, Form K has now been revamped. It includes a second part which a director uses to signify his or her consent to the appointment. Form K(1) is used for that declaration to be made when a director is being appointed for newly-formed companies.

    These forms shall be accepted as of the 01 February 2022.

    More on this link: Legislative amendments introduced by Act LX of 2021 – Malta Business Registry (mbr.mt)

  • Companies Act – Register of Beneficial Owners

    On the 1st January 2018, new regulations came into force setting up the register of beneficial owners within the Registry of Companies.  Companies must declare the identity of the ultimate beneficial owners (UBOs).  This applies for UBOs having a share or controlling interest of more than 25%. If there are none, then the company has to indicate who the senior administrators are.

    The regulations exclude companies where:
    1. They are listed on a regulated market and disclosure of beneficial owners is already required under the appropriate regulations; or
    2. All shareholders are natural persons disclosed to the companies registrar.

    The First Schedule of the regulations 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. The declarations must include name, date of birth and nationality, identification details and country of issue of the passport or identity document.  Failure to comply means that the Registrar will not register the company.

    The regulations require the Registrar to keep a register for information on the beneficial owners.  The information is not available to the general public except under payment of a fee to download the documents.

    Update – December 2023:

    A recent European court judgement has confirmed that having this information accessible by the general public is not strictly necessary or proportionate in terms of human law rights and thus, the ability to access beneficial owners’ information has now been limited to licensed entities and subject persons.  Read the article here.

    Companies must retain accurate, adequate and up to date information on all beneficial owners in compliance with the regulations.  They must hold this information in a beneficial owners register which they keep at the company’s registered office.

    Shareholders and UBOs are bound to provide the information without delay, even upon any change in the beneficial ownership or interest held.  New shareholders shall not be registered unless they comply with this requirment.

    Any changes in beneficial ownership must be notified to the registry within fourteen days.  Companies must use the prescribed Form including all the information necessary.  The same applies in the case of a transfer or transmission of shares, where this has entailed a change in beneficial ownership interest held.  Notices of changes must be signed by at least one director or the company secretary.

    Power of Authorities

    The registry is authorised to exchange the information with tax and other competent authorities as well as to subject persons carrying out CDD in terms of the applicable regulations.  Subject persons requesting such information may demonstrate their legitimate interest in obtaining such information, including on the basis of previous activities and proven track record.  (Note – this might cause problems for new start-ups).

    In exceptional cases where the beneficial owner risks exposure to harm owing to  disclosure, such information should not be disclosed.  Subject persons cannot rely exclusively on the register for CDD purposes.  Furthermore, authorities across the EU will have the power to exchange information with each other.

    Submission and Liability to fines for default

    The rules subject access to information to online registration and a fee of EUR 5.00 for every access to the information on the beneficial owners of each company. Post 2022, this information is only accessible to subject (licensed) persons.

    Default will expose every beneficial owner, shareholder, officer and the company jointly and severally to fines.  Officers can only escape this where they have used all due diligence in order to comply with the rules and was not at fault for the failure.

    This information is to be provided at every anniversary of each company after the initial submission.  Notably, the rules also apply to commercial partnerships.

    False or misleading statements can lead to hefty fines and / or imprisonment.  The rules make provision for electronic submission. This enables subject persons to submit documents on time.

    The Second Schedule lists down the applicable administrative penalties for failure to submit on time.

  • Information on Beneficial Ownership: Trusts and Trustees

    On the 1st January 2018, new regulations came into force concerning the operation of a Central Register of Beneficial Owners for trusts and trustees, for companies, for associations and for foundations.  This Central Register collects information on beneficial ownership of these structures or entities, in a continued fight against financial crime.

    What does it mean for trusts?

    For trusts and trustees, the rules only apply to express trusts generating tax consequences.  Within 14 days from being appointed as a trustee of an express trust, authorised trustees must submit a declaration of ownership to Malta Financial Services Authority (MFSA) where such trust has tax consequences.

    The regulations list the information to be provided by the trustee regarding every beneficial owner, and this without prejudice to any customer due diligence (CDD) carried out under the anti-money laundering regulations. CDD must be carried out before any such information is passed on to MFSA.

    Where the beneficiaries of a trust are a class of beneficiaries, special rules apply concerning the description of the class as well as inclusion of family members.  Limited information is to be provided where the trust is set up for charitable persons without any beneficiaries or classes of beneficiaries in whose name the trust is set up (drafting is a little unhappy here).

    The MFSA will keep a register for this purpose, and information must be such as to allow MFSA to fulfil its duties under the regulations.  Changes in beneficial ownership must be notified to the MFSA within 14 days.

    If the change is made to the trustee, the latter is required to inform MFSA.  An declaration stating that there has been no change is to be submitted yearly after the first declaration made, to be signed by the trustee.  MFSA should make such information available to listed competent authorities for tax and anti-money laundering.

    It is worth noting that changes to be notified include a change in passport number (e.g. issue of a new passport) or a change in registered address of the UBO.

    In exceptional cases where disclosure of such information would expose the UBO to danger, such information must not be disclosed.

    Obligations to file beneficial ownership information

    Subject persons may not rely solely on the register to fulfil their CDD.  Trustees cannot solely rely on their compliance with these regulations and must comply with requests for information from any subject person carrying out CDD obligations when onboarding or servicing customers.  Data protection rules still apply to information processed in terms of these rules.

    For trusts having tax consequences where a trustee was appointed before 1st January 2018,  trustees have six months within which to provide information to the MFSA.

    Administrative penalties of up to EUR 150k are applicable for failure to comply with the regulations.

    The MFSA’s Central Register shall be connected to a centralised European Register.

    The regulations provide for electronic submission of such information, making it easier to comply.

    Get in touch if you need help changing the information that the authorities held in respect of your business.