Publications

ECB Recommendation on Dividend Distribution during the COVID-19 Pandemic and Repealing Recommendation ECB/2020/1

Authors: Vanessa Anne Gatt
Published on March 30, 2020
Tags:
Practices: Banking Regulatory
On 27 March 2020, the European Central Bank (“ECB”) issued a recommendation whereby it held that the conservation of capital resources by credit institutions should take priority at present over discretionary dividend distributions and share buy-backs amid the COVID-19 related economic shock. The ECB deems it crucial that credit institutions be able to continue to fulfil their role in funding households as well as small and medium businesses in an economy of heightened uncertainty owing to COVID-19.

COVID-19: Office for Competition provides guidance on how Concentration Notification Forms should be submitted to it

Authors: Sylvann Aquilina Zahra, Clement Mifsud-Bonnici
Published on March 30, 2020
Tags:
Practices: Mergers & Acquisitions
On 26 March 2020, we published an article titled ‘COVID-19: Mergers and Acquisitions must continue to be notified to the Office for Competition where the notification obligation under the Control of Concentrations Regulations applies’, which can be accessed from here.

The Protection of Vulnerable Persons Order 2020

Authors: Luke Hili
Published on March 30, 2020
In an effort to stem the spread of COVID-19 amongst those deemed most vulnerable, the Superintendent of Public Health (by virtue of the powers vested in her in terms of the Public Health Act) has now adopted a targeted approach to “lock-down” via the issuance of Legal Notice 111 of 2020, i.e. the Protection of Vulnerable Persons Order, 2020 (the “Order”).

COVID-19: Capital Markets Update – Further Extensions Of Reporting Deadlines

Authors: Beppe Degiorgio
Published on March 27, 2020
Tags:
Practices: Capital Markets
The European Securities and Markets Authority (ESMA) has just issued a public statement to promote coordinated action by National Competent Authorities (NCAs), including the Malta Financial Services Authority (MFSA) regarding issuers’ obligations to publish periodic information for reporting periods ending on 31 December 2019 or after in the context of the COVID-19 outbreak.

COVID-19: Mergers and Acquisitions must continue to be notified to the Office for Competition where the notification obligation under the Control of Concentrations Regulations applies

Authors: Sylvann Aquilina Zahra, Clement Mifsud-Bonnici
Published on March 26, 2020
Tags: ,
Practices: Mergers & Acquisitions
Background

The Control of Concentrations Regulations (S.L. 379.08) require the parties to a merger or acquisition to notify their transaction to the Office for Competition (OC) where the transaction brings about a lasting change of control and when in the preceding financial year: