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Grant Thornton Malta believes in a sustainable future. As one of its CSR initiatives, it opted to donate 50 of its decommissioned laptops to the Malta Trust Foundation in support of its ‘Your Device Your Right’ initiative.

The purpose of the study is to raise awareness of the need to improve board gender diversity (BGD) in Maltese equity-listed entities (MLEs) and large public sector entities.

The Malta Property Landscape - April 2023 Edition

We are proud to announce our accreditation as the first approved External Reviewer for Green Bonds in Malta by the Malta Stock Exchange (MSE). Through this accreditation we are committing to raising sustainable investment and promoting environmental responsibility in Malta.

The International Sustainability Standards Board (ISSB) recently met in Montreal and made some final decisions on the technical content of the first two sustainability Standards it plans to issue. In considering this material they also made a crucial decision that these two Standards, which are due to be released in June 2023, will become effective for periods commencing on or after 1 January 2024.

The Financial Intelligence Analysis Unit ('FIAU') is responsible for gathering and analysing data pertaining to financial crime such as money laundering and financing of terrorism. The aim of such a process is for the FIAU to have a better understanding of the financial crime risk in Malta as well as to aid in the prosecution of money launderers and financers of terrorism.

UTIX Malta Limited has successfully registered its whitepaper with the Malta Financial Services Authority (MFSA).

Women in Business 2023: Now is the time to push for parity

On 1 March 2023, the Financial Intelligence Analysis Unit (FIAU) made available the Risk Evaluation Questionnaire (REQ) through CASPAR for all subject persons. As a result, subject persons must ensure that they are registered to the portal and that the Subject Person Profile is kept updated.

The Malta Gaming Authority (MGA) has published a new policy regarding operators using virtual assets. The policy took effect on January 30, 2023 and replaces the MGA’s Guidance on the use of Innovative Technology Arrangements. The new policy outlines the MGA’s position on Distributed Ledger Technology (DLT) applications and streamlines previous requirements. Operators must obtain MGA approval before using or accepting DLT assets on their platform. Virtual Tokens and Virtual Financial Assets may be used as payment on a case-by-case basis. Operators may use their own wallets for VFA deposits and use smart contracts on their platforms. Operators are expected to comply with Anti-Money Laundering and Counter Financing of Terrorism legislation and carry out necessary risk assessments. Grant Thornton's team can assist operators with classification of DLT assets, communication with the MGA, technical support, AML and CFT compliance, and other regulatory support.

For the 15th year in a row, FinanceMalta will be hosting their Annual Conference on 1 December 2022.

Many people do not seem to be aware about the potential consequences of climate change. As explained by the United Nations, climate change does not simply mean higher temperatures. It also refers to more severe consequences, such as melting of polar ice, flooding, and a reduction in biodiversity. Most individuals and organisations do care about this, but no drastic changes can be done if these all act in isolation.

The Maltese government has once again extended the tax reduction scheme on property transfers. Through this scheme, the first €400,000 of a property’s value will be subject to a reduced tax rate of 5% as well as a 1.5% reduction on stamp duty.

Technological advancements over the past years have brought about various positive societal changes, transforming the educational and health sectors as we know them today. Technology has become a necessity in our personal lives and in organisational structures, facilitating communication through different networks. However, this has also provided a way for people to use online platforms illegally, leading to what is now known as cyber-crime.

The Malta Financial Services Authority (MFSA) has launched its Corporate Governance Code. All MFSA authorised entities will have to abide by the code, which complements the existing provisions already in force in the legal and regulatory framework and is based on the principle of proportionality.

In recent years, concerns about housing affordability in Malta have become more pronounced due to the escalation in property prices. In essence, housing affordability relates to an individual’s ability to pay for housing – a basic human need. When housing affordability is being discussed, one could consider whether an individual is able to rent a property; or their ability to purchase a property in their lifetime. Here we are talking about the latter.