Publications

Company Reconstructions Fund Regulations

Authors: Adrian Camilleri
Published on May 15, 2020
Legal Notice 192 of 2020 entitled Companies Act (Company Reconstructions Fund) Regulations, 2020 (the “Regulations”) has been published to create and regulate the administration of a fund known as the Company Recovery Fund (the “Fund”). This Fund is intended to facilitate company recovery procedures instituted in accordance with article 329B of the Companies Act (the “Act”).

COVID-19 and alternative Customer Due Diligence Measures

Authors: Anthony Cremona, Stephanie J. Coppini
Published on May 12, 2020
Tags:
Practices: Prevention of Money Laundering
With the unfortunate circumstances the world, including Malta, is currently facing as a result of the novel COVID-19 virus pandemic, it is regretfully not ‘business-as-usual’, not least where Anti-Money Laundering and Combating the Funding of Terrorism (“AML-CFT”) is concerned. In fact, while most subject persons have adapted themselves to COVID-19 by striving to continue to provide their services to their customers remotely due to social distancing measures, public health-related precautions, the physical closure of government departments/agencies and lockdown for particular persons who are considered vulnerable, it is becoming increasingly difficult, if not impossible, to carry out Customer Due Diligence (“CDD”) in the way we were accustomed to just a few weeks ago. Procuring original documents, or certified true copies thereof, in particular has become increasingly challenging.