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Legal Updates : 8th October till 14th October
E&S Group

Legal Updates : 8th October till 14th October

By October 17, 2022No Comments

AML/CFT

  • FIAU issues Thematic Review 2020 on provision of directorship services by Corporate Service Providers

TAX

GAMING

  • MGA extends closed consultation regarding amendments to Player Protection Directive
    • The Authority has advised interested parties that the period of the Closed Consultation regarding amendments to Player Protection Directive published on 30 September 2022 by the MGA, is being extended from Friday 14 October 2022 to Monday 24 October 2022. This extension will allow all stakeholders additional time to thoroughly review the amendments and provide feedback.
    • https://www.mga.org.mt/suspension-of-authorisation-for-arabmillionaire-limited-c-81104/
  • MGA & ANJ hold two-day technical meeting on AML/CFT
    • The Malta Gaming Authority (‘MGA’, ‘Authority’) and French regulator, L’Autorité Nationale des Jeux (‘ANJ’), collaborated on a joint technical meeting on Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) matters. The purpose of the meeting was to showcase the methodologies and requirements of both authorities as well as to foster cooperation between two regulators. The joint workshop looked at an overview of both MGA and ANJ’s AML Units’ functions, composition, and objectives with specific focus on the supervisory aspect.
    • https://www.mga.org.mt/mga-anj-hold-two-day-technical-meeting-on-aml-cft/

INTERNATIONAL

  • OECD presents new transparency framework for crypto-assets to G20
    • The OECD delivered a new global tax transparency framework to provide for the reporting and exchange of information with respect to crypto-assets. The Crypto-Asset Reporting Framework (CARF) responds to a G20 request that the OECD develop a framework for the automatic exchange of information between countries on crypto-assets. The CARF will ensure transparency with respect to crypto-asset transactions, through automatically exchanging such information with the jurisdictions of residence of taxpayers on an annual basis, in a standardised manner similar to the CRS. The CARF will target any digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions. The CARF contains model rules that can be transposed into domestic legislation, and commentary to help administrations with implementation.
    • https://www.oecd.org/tax/exchange-of-tax-information/crypto-asset-reporting-framework-and-amendments-to-the-common-reporting-standard.htm

AVIATION

  • EASA publishes Easy Access Rules for Continuing Airworthiness (advance revision)
  • EASA publishes first guidelines on noise level measurements for drones below 600kg
    • The European Union Aviation Safety Agency (EASA) published guidelines to establish the noise levels of drones below 600 kg, the first proposal world-wide for this, applicable to a wide variety of drone designs including multicopters, fixed-wing aircraft, helicopters and powered-lift aircraft. These guidelines aim at providing harmonised procedures to measure the noise of drones used in the low and medium-risk operations of the ‘specific’ category. This will contribute to a high, uniform level of environmental protection and prevent significant harmful effects of noise on human health in the EU, as mandated by the EASA Basic Regulation. These guidelines are to be used on a voluntary basis and do not constitute applicable requirements for the certification of drones.
    • https://www.easa.europa.eu/en/downloads/137139/en

EUROPEAN UNION

  • European Council and Parliament Committee passes MiCA crypto framework in landslide vote
    • On the 5th of October, the European Council’s Permanent Representatives Committee approved the MiCA text and sent it to the chair of the European Parliament Committee on Economic and Monetary Affairs. Policymakers with the European Parliament Committee on Economic and Monetary Affairs, or ECON, then approved the Markets in Crypto-Assets framework following a vote from the European Council on the 10th of October. Members of the parliamentary committee passed the crypto framework policy in a vote of 28 in favor and one against, with a final vote expected in a full European Parliament session soon. Following the MiCA vote, members of the EU Parliament also overwhelmingly approved a provisional deal on the Transfer of Funds Regulation — legislation aimed at having compliance standards for crypto assets in an effort to crack down on money laundering.
    • https://data.consilium.europa.eu/doc/document/ST-13198-2022-INIT/en/pdf
  • Second EU-US Joint Technology Competition Policy Dialogue consolidates international cooperation on competition policy and enforcement in technology sector
    • Following the launch of the Technology Competition Policy Dialogue, on 7 December 2021, today, the heads of the European and US competition authorities met to take stock on the progress made on their cooperation efforts to ensure and promote fair competition in the digital sector. Among others, the discussion focused on: (i) the importance of forward-looking analysis in the field of technology to identify future key markets and issues that may arise in the digital sector (ii) the adoption of effective remedies in digital cases, and (iii) the need to keep merger regulations fit for purpose in a digitalised economy.
    • https://ec.europa.eu/commission/presscorner/detail/en/ip_22_6167
  • EU Communication adopted on the enforcement of EU law
  • EU Commission welcomes political agreement to improve the governance and integrity of the European standardization system
    • The Commission has welcomed the political agreement reached between the European Parliament and EU Member States on the amendment to the European Standardisation Regulation, proposed by the Commission as part of the Standardisation Strategy presented on 2 February 2022. Trilogue negotiations have now concluded, paving the way for final approval of the legal text by the European Parliament and the Council of the European Union.
    • https://ec.europa.eu/commission/presscorner/detail/en/ip_22_6116
  • EU Commission assesses reforms in the Western Balkans and Türkiye and recommends candidate status for Bosnia and Herzegovina as part of the 2022 Enlargement Package
    • the European Commission adopted its 2022 Enlargement Package, providing a detailed assessment of the state of play and the progress made by the Western Balkans and Türkiye on their respective paths towards the European Union, with a particular focus on implementing fundamental reforms, as well as clear guidance on the reform priorities ahead. The Commission recommends that Bosnia and Herzegovina be granted candidate status by the Council, on the understanding that a number of steps are taken to reinforce democracy, functionality of state institutions, rule of law, the fight against corruption and organised crime, guarantee media freedom and migration management in the country.
    • https://ec.europa.eu/commission/presscorner/detail/en/ip_22_6082
  • EU Commission steps up action to tackle disinformation and promote digital literacy among young people
    • The Commission published Guidelines for teachers and educators in primary and secondary schools, on how to address disinformation and promote digital literacy in their classrooms. The guidelines provide practical support for teachers and educators and include definitions of technical concepts, class-exercises and how to encourage healthy online habits. This toolkit covers three main topics: building digital literacy, tackling disinformation, and assessing and evaluating digital literacy.
    • https://op.europa.eu/en/publication-detail/-/publication/a224c235-4843-11ed-92ed-01aa75ed71a1/language-en
  • Culture Moves Europe mobility scheme provides new opportunities for artists and cultural professionals
    • The Commission has launched Culture Moves Europe, its new permanent mobility scheme for artists and cultural professionals, as well as a first call for individual mobility, during a high-level event in Brussels, Belgium. Benefiting from a total budget of €21 million under the Creative Europe programme for a three-year-period (2022-2025), Culture Moves Europe becomes the largest European mobility scheme for artists and cultural professionals targeting all Creative Europe countries and sectors covered by the Culture Strand of the programme.
    • https://culture.ec.europa.eu/creative-europe/creative-europe-culture-strand/culture-moves-europe-mobility-for-artists-and-professionals

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