On 23 March 2018, the European Securities and Markets Authority (ESMA) agreed to take measures on the provision of contracts for differences (CFDs) and binary options to retail investors in the European Union (EU).
The Council of the EU has just reached an agreement to work on a directive intended to tackle cross-border tax planning. This agreement was reached on 13 March 2018 at a meeting of the Economic and Financial Affairs Council. The fundamental idea of the directive is to pre-empt tax planning schemes detrimental to the interests of the EU’s member states before they are actually implemented.
A new gaming bill has been tabled in the Parliament of Malta. On 13 March 2018, the Hon. Silvio Schembri, the Parliamentary Secretary for Financial Services, Digital Economy and Innovation, tabled a motion in Parliament for the first reading of a new gaming bill.
On 13 March 2018, the Council of the EU published its latest amendments to its list of non-cooperative jurisdictions in matters of taxation. Changes include the removal of Bahrain, the Marshall Islands and Saint Lucia, and the addition of the Bahamas, Saint Kitts and Nevis, and the US Virgin Islands.
The Fourth Anti-Money Laundering Directive has been transposed into Maltese law by virtue of amendments to the Prevention of Money Laundering Act, the enactment of new regulations under said act, and through the publication of various regulations intended to set up beneficial ownership registers for companies, trusts, associations, foundations and other legal entities.
The Financial Action Task Force (FATF) have been asked by 35 countries and the European Commission to revise anti-money laundering policies pertaining to cryptocurrencies.
Zeta has incorporated it’s own SCC by the name of Pomegranate SCC p.l.c.. We promote Pomegranate to third parties who may be looking to undertake a securitisation transaction without incurring additional time and costs required for the purposes of incorporating, setting up and maintaining a dedicated securitisation vehicle or an SCC.
There are several types of investment funds that can be set up in Malta. These range from the traditional UCITS fund to Professional Investor Funds (PIFs), Alternative Investment Funds (AIFs), Private Funds and the recently launch Notified Alternative Investment Fund (NAIF).
The Malta Financial Services Authority (‘MFSA’) published a new set of rules regulating collective investment schemes using virtual currencies.