International Regulatory Updates

The EBA adopted a formal Recommendation to ensure that major EU cross-border banks develop group recovery plans by the end of 2013. The plans shall be submitted to the respective competent authorities and discussed within colleges of supervisors. The aim of the Recommendation is to spur the developm ...

The European Securities and Markets Authority (ESMA) has today published a review of 2011 IFRS financial statements related to impairment testing of goodwill - the value of intangible assets which has a quantifiable value - and other tangible assets. The review, which looked into the accounting prac ...

Inside this issue: MFSA issues second consultation document on AIFMD MFSA implements ESRB Recommendation on foreign currency lending MFSA issues consultation on proposed amendments to Trusts and Trustees Act Malta: Recognised Incorporated Cell Companies Press Releases issued by the ...

The European Securities and Markets Authority (ESMA) has launched a Consultation Paper on Guidelines and Recommendations on the scope of the CRA Regulation. The draft Guidelines aim to provide clarification on certain aspects of the scope of the Credit Rating Agencies (CRA) Regulation to registered ...

The European Securities and Markets Authority (ESMA) has launched a consultation on Guidelines on key concepts of the Alternative Investment Fund Managers Directive (AIFMD). The Directive provides the legal framework for both alternative investment funds (AIFs) and their managers (AIFMs). Read fu ...

1. Executive Summary 1.1 Overview According to Article 9 (1)(a) of the Regulation establishing EIOPA , the Authority “shall take a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products or services across the internal market, including b ...

Inside this issue: Financial Markets Act - Designated Financial Instruments Regulations, 2012 (L.N. 380 of 2012) Remuneration Guidelines/Principles Consultation Procedure - Proposal for the creation of an Alternative Companies List Consultation Procedure - Introduction of the proposed ...

Inside this issue: MFSA - EIOPA Seminar “System of Governance” Payment Services Directive and the Electronic Money Directive Reforming the structure of the EU Banking Sector The UCITS Brand and the Asian Dimension Press Releases issued by the European Supervisory Authorities ...

Knowledge and ability requirements are generally a combination of academic and professional experience. In many Members States, the requirements for knowledge and ability are more stringent for insurance brokers than insurance agents. Requirement to update knowledge and ability requirements throu ...