Latest Insights on ICT and Cybersecurity Supervision: A Focus on DORA Compliance
The Malta Financial Services Authority (MFSA) has recently published the eleventh volume of “The Nature and Art of Financial Supervision,” focusing on Supervisory ICT Risk and Cybersecurity. This comprehensive document outlines the evolving landscape of ICT risk...FIAU to Give Priority to Due Diligence Carried out on Companies that Fail to File Financial Statements
Introduction On 26 June 2024, the FIAU published its AML/CFT Supervisory Plan covering the period July 2024 to June 2025. The document includes information on the main supervisory focus that each category of subject person will be subject to during the aforementioned...Ramona Galea to lead new ARQ’s People and Performance service offering
ARQ Group has announced Ramona Galea as Director of its People and Performance department, a newly launched service line aimed at offering a full suite of services to clients who want to build, reshape, or strengthen their human capital function. This new service...Understanding the new EU Minimum Tax Directive [Council Directive EU2022/2523]
On the 20th February 2024, the European Union Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups Regulations, 2024 were enacted to transpose Directive (EU) 2022/2523. Concurrently, the Commissioner for Tax and Customs published guidelines to facilitate their implementation.
Update on the Digital Operational Resilience Act (“DORA” or “Regulation (EU) 2022/2554”)
The MFSA noted that DORA will be supplemented by Regulatory/Implementing Technical Standards, (the “Technical Standards”) which are currently being drafted by the European Supervisory Authorities (the “ESAs”) through the Joint Committee. The delivery deadlines for the Technical Standards are set out in Annex 1 of the circular published in January 2023.