Daniel Bilocca, compliance and risk director at NOUV, gives an overview of what legislative instruments have strengthened AML compliance in Malta.
2020 shall be remembered by Malta’s AML compliance experts for the numerous key legal amendments that have started turning the method of AML compliance enforcement over its head: the result of the publication of different acts and legal notices.
Malta’s initial step was to bolster its competent authority, the Financial Intelligence Analysis Unit (FIAU) to safeguard its transparency. Malta’s very first legislative Act of the year implemented the following measures:
i. The FIAU was granted the right to establish, manage and administer a central bank account registry for Malta which as per Legal Notice 401 of 2020 (the Centralised Bank Account Register Regulations), shall contain ‘data and information on accounts identified by IBAN held by credit and financial institutions and on safe custody services provided by credit instituti
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Date Time
Appointment of Acting Equal Opportunity Commissioner
A senior lawyer with experience in both the Crown Solicitors Office and the Office of the Director of Public Prosecutions has been appointed as interim Equal Opportunity Commissioner.
Attorney-General Vickie Chapman said Steph Halliday would begin in the role on March 1, while the Government considers its options for a longer-term appointment, taking over from the current Acting Commissioner Emily Strickland.
“I would like to take this opportunity to thank Ms Strickland for her work – especially on the review into the workplace culture and mechanisms for reporting harassment in Parliament House,” Attorney-General Chapman said.
The Alternative Legal Service Providers 2021 survey results are out!
(I am talking about the much-anticipated third biennial survey produced by Thomson Reuters in partnership with The Center on Ethics and the Legal Profession at Georgetown Law and the Saïd Business School at the University of Oxford that came out last week. Any images used in this post are from that report which you can find as the top listing under the announcement section here.)
Below are some highlights from their report along with some of my reactions.
ALSP use is becoming more mainstream for both law departments and law firms
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