Immutability in a smart contract: a blessing or a curse?

Smart contracts are contracts which are written in computer code on a blockchain according to the terms set out by the parties to such contract and which are self-executing in the manner pre-determined by said code.  Nick Szabo, known for being the creator of smart contracts, famously described them as “A set of promises, specified…

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Vacancy – Audit Assistant

Are you looking for a challenging and rewarding career in Audit? RESPONSIBILITIES Reporting to the Audit Manager the responsibilities will include:• Provide support to Audit Seniors• Perform assigned audit work based on a risk-based approach and identify audit issues• Review accounting systems and controls and identify any weak areas• Prepare audit documentation in accordance with…

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Earth Day 2019

“It’s important to care for our environment everyday , but if one day is all you need to start, then April 22 should be the beginning of a greener you!’– Earth Day Network Making your Law Firm Greener. Earth Day  is observed annually on April 22. Celebrated since 1970, it is a day held to…

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The Predicted End of Fiat Currencies

Billionaire and crypto investor Tim Draper envisages a radical overhaul in payment systems; predicting that cryptocurrencies will replace fiat currencies within the next five years.  Following the unprecedented announcement by the first major bank to have ever created its own digital coin, the ‘JPM Coin’, one wonders whether such an endorsement of blockchain technology by…

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GMX at the ELSA hosted Corporate & Finance Law Conference on 5 April 2019

The legal requirements pinning the corporate world open windows to several fascinating case studies which illustrate the law in practice and the ever evolving nature of legislation resulting from the impact of given verdicts. Referring to case studies inevitably offers much food for thought and debate among lawyers. What is even more significant is the…

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Malta Financial Services Authority partners with CipherTrace for Crypto Transaction Monitoring

The Malta Financial Services Authority (‘MFSA’) has announced[1] its partnership with the U.S. cybersecurity company CipherTrace Compliance Monitoring (‘CipherTrace’) in order to monitor and regulate the compliance of cryptocurrencies and virtual asset businesses licensed in Malta.  As a Supervisory Technology (‘SupTech’) tool, CipherTrace will facilitate MFSA’s management of money laundering and financing of terrorism risks…

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Women of Influence

*This interview has been published in Maritime Economies newspaper. 1.Are there specific business sectors where women managers can lead? I don’t believe that any business sectors should be exclusive to either men or a woman because such a system runs counter to gender inclusion and further inculcates gender bias. Moreover, I firmly believe that leadership…

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The Economicard Group celebrating 46 years of success

We are proud to be celebrating our 46th anniversary in 2019. Economicard Group of Companies offers a wide and diverse range of services. It was set up in 1973, offering a “cash discount card” service to the general public. The Group then moved on to offering travel and insurance services. Soon after, the Group diversified…

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The Contemporary Company Secretary

Although constantly evolving, in more recent years, the role of the Company Secretary has undergone a significant shift both in the way it is perceived externally and also in its actual fulfilment within an organisation. Whereas historically defined rather restrictively as mainly administrative in nature, the Company Secretary is now expected to fulfil a much…

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Call for AML Regulation for Cryptocurrencies

Ever since the creation of Bitcoin, cryptocurrencies have been applauded and welcomed for constituting an innovative method of payment without any recourse to financial institutions and their entailing bureaucracy.  While honest individuals rejoiced at cryptocurrencies’ legitimate benefits; ranging from an increased degree of privacy and confidentiality to less transactional costs, cybercriminals saluted the decentralised networks…

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