On 15th July 2021, the European Security and Markets Authority (“ESMA”) announced that it had published a consultation paper in relation to the review of its guidelines on the delay of disclosure of inside information under the Market Abuse Regulation (Regulation (EU) 596/2014) (“MAR”), in particular in relation to the banking sector (ESMA70-156-3934).
On the 2 July 2021, the Malta Financial Services Authority (the “MFSA”) issued a notice aimed particularly at those CSPs registered before the amendments were introduced by Act L of 2020 and the updated CSP rules, both of which came into force on 16 March 2021. All existing CSPs are required to comply with the updated CSP rules, following the 6-month transitory period granted on 16 March 2021.
On the 24th of June 2021, the Malta Financial Services Authority (MFSA) published a revised version of the Notified Alternative Investment Fund Rules, reflecting the amendments of the MFSA NAIF regime.
Businesses are facing a challenge in their cross border transfers of personal data to non EU countries following the Schrems II judgement.
In this video we take a closer look at the new developments in the area of GDPR one of which is Brexit and how this is having an impact on cross border transfers of personal data between the EU and UK.
In response to industry demand, the Merchant Shipping Directorate developed the Passenger Yacht Code (the “PYC”), which came into force on the 25th of May 2021. The PYC seeks to implement a more tailored approach to the regulation of “Passenger Yachts” (as defined therein), which reflects their operational pattern and risk profile, as well as the development of the yachting industry as a whole.