Publications

COVID-19: MFSA Circular on ESMA’s Position on SFTR Backloading

Authors: Neil Bezzina
Published on April 1, 2020
Tags:
Practices: Financial Markets Regulation
The MFSA Circular on Regulation (EU) No 2015/2365 (“SFTR”) on Securities Financing Transactions issued on the 27 March 2020 is addressed to all market participants, particularly entities which enter into securities financing transactions falling under the scope of SFTR, inter alia financial and non-financial counterparties as defined in Article 3 of SFTR.

COVID-19: Specific crowd control measures introduced

Authors: Luke Hili
Published on April 1, 2020
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Following an announcement made by Home Affairs Minister Byron Camilleri during a press conference held on 30 March 2020, the Government of Malta has issued two interrelated legal notices aimed at deterring the congregation of individuals in public places, these being:

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.