Cyber security: What Directors need to know

Authors: Stephanie Sciberras
Published on February 12, 2016
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Practices: Corporate Services, Data Protection & Privacy
Directors have a new risk to take into account when drafting and/or reviewing their company’s risk policies and procedures: cyber security risk. Cyber security risk may have reputational as well as financial impact on a company and it is a risk which is constantly evolving. Accordingly, regular security assessments, the encryption of data and installing a firewall have become a must for today’s corporate entities in order for these to protect their clients and their data.

Outcome of Thematic Review Carried Out by MFSA in Respect of Trustees and Other Fiduciaries

Authors: Anthony Cremona
Published on February 4, 2016
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Practices: Trusts & Foundations
In the course of 2015, the Conduct Supervisory Unit (“CSU”) within the MFSA carried out a desk-based compliance review of roughly 50% of the authorised trustees and fiduciaries. They did this by issuing a detailed Thematic Review Questionnaire (“TRQ”) that focused mainly on corporate governance issues, with a focus on the Board of Directors and its relationship with shareholders and management.

UCITS V – ESMA Issues Q&As on Updating Fund Documentation

Authors: Mark Caruana Scicluna
Published on February 3, 2016
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Practices: Investment Funds, Investment Services Regulation
On 1 February 2016, the European Securities and Markets Authority (ESMA) released its questions and answers (Q&As) on the new UCITS V Directive. To the delight of stakeholders, ESMA has given UCITS and UCITS Management Companies considerable breathing space to update fund documentation ahead of UCITS V.