Karl Diacono, Managing Director of Fenlex, looks at the state of online gaming licensing in Malta (article appeared in iGaming Business Jan/Feb 2010).

Malta’s Remote Gaming Regulation 2004 is due for updating. In fact it is known that the Regulation in the current form is somewhat weak in that, in many areas, it is open to interpretation or does not give operators or the authority itself, clear cut answers in a number of areas. It is also known that the regulator is not too happy with the current state of affairs but has been too busy solving the big issue that cropped up this year when Maltese villages where invaded by gaming shops packed with gaming machinery that was not regulated. This problem is now solved with new legislation in place regulating these onshore operations. The next big project, after the LGA settles into its spanking new offices, should be updating the current remote gaming regulations.

For the first time Fenlex Corporate Services Limited and Fenech & Fenech Advocates set up their own stand at one of the most important global gaming events – the International Gaming Expo in London which took place between 26th and 28th January. “We have received a high number of quality leads for potential new business and meet up with a large number of our existing customers”, Fenlex’s Managing Director Karl Diacono said.

Malta’s fund industry has opened up to one of the world's largest pools of private capital. The Malta Financial Services Authority (MFSA) and the People’s Republic of China Securities Regulation Commission have signed a Memorandum of Understanding (MoU), allowing Chinese Qualified Domestic Institutional Investors to invest, on behalf of Chinese investors, domiciled investment funds regulated by the MFSA into Malta. At the same time, MFSA licensed companies will be able to access the Chinese Qualified Foreign Institutional Investor status and invest directly in China.

National rules restricting the provision of sports betting must pursue their objectives consistently and systematically to be in conformity with EU law. This is the opinion of Advocate General Yves Bot in a betting case involving Winner Wetten (C-409/06) before the Court of Justice of the European Union (CJEU). Rules adopted by North Rhine-Westphalia that justify the organisation of a sports betting monopoly for reasons of preventing addiction to gambling are incapable of protecting consumers and are therefore incompatible with European Union law, concludes Bot.

Malta and Jersey have signed an agreement on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. This is the 16th double taxation agreement signed during the past 22 months, all aimed at increasing Malta’s attractiveness to foreign direct investment.

Malta will host the international gaming community in 2010: The World Gambling Briefing will take place on the island between the 24th and 25th March. Over 150 attendees are expected to participate in more than 15 sessions. This two day event will focus on tangible shifts in regulations and policies around the world and how to take advantage of them. The World Gambling Briefing is already in its fifth year and offers operators a wide spectrum of business models to learn from and potential partners to meet.

Technology expertise, industry insight and regulatory knowledge as well as business sense are required in order to survive in the gaming industry. The whole package is important. Being licensed in a reputable jurisdiction can give you the edge over your competitors and Malta is such a jurisdiction. Sonja Lindenberg from Fenlex looks at the reasons why ICT and business-savvy is a winning combination. Article appeared in InsidePoker Business (Quarter 4 2009/Issue 4).

Malta and Russia yesterday agreed to work for the conclusion of a double taxation avoidance agreement. The subject was discussed as part of talks held in Moscow between Foreign Minister Tonio Borg and Russian Foreign Minister Sergey Lavrov.

Malta has put foreign investment in the country at the top of its economic list of priorities and the budget 2010, which was recently presented by Finance Minister Tonio Fenech, shows a further commitment to attracting foreign investment. Fenlex has compiled the below list of the most common and interesting incentives provided.

Denmark's draft law designed to create a more open but still limited online gambling market in the Scandinavian country was not approved by the European Commission. The commission issued a detailed opinion against the Danish proposal to regulate online gaming and betting earlier this week. The draft legislation is intended to regulate both the on - and offline gaming and betting market in Denmark.