https://www.um.edu.mt/library/oar/handle/123456789/69291 2026-04-12T03:18:19Z 2026-04-12T03:18:19Z https://www.um.edu.mt/library/oar/handle/123456789/70126 2021-03-01T13:52:53Z 2020-01-01T00:00:00Z

Title: Trustworthy versus fake reviews on online marketplaces and review platforms : time for the EU to regulate transparency of review systems? Abstract: In today’s e-commerce environment, many consumers rely on online reviews from peers. They find these reviews nearly everywhere in the internet and trust former customers more than a trader’s own advertisement. The possibilities to get information about a trader’s reputation are limited online due to anonymity and distance. Over the last years, online reviews had become a powerful tool for the success of business. However, some traders started to boost their business by buying positive reviews from certain companies. Other traders tried to harm a competitor through false negative reviews. Some traders decided to use incentives in order to get more reviews. ‘Fake reviews’ had become an increasing problem. Therefore, platforms developed strategies in order to detect and remove them. Consumer organisations published guidelines for the handling of online reviews. Such voluntary codes of conduct and self-control are helpful but they are not sufficient because they are not binding. Thus, there is the need for clear legislation and enforcement in order to combat fake reviews. Some Member States tackled the challenges posed by fake reviews in their own way. Several courts in Germany delivered decisions in this context, whereas France adopted a law in 2016 which directly imposes transparency requirements on online platforms. The experiences of these two countries are instructive. Albeit Directive 2005/29/EC on Unfair commercial practices (‘UCPD’) tackles fake reviews, the provisions themselves do not explicitly mention them. The Commission’s guidance of 2016 refers to online reviews, but it is not legally binding. The EU’s ‘New Deal for Consumers’ introduced Directive (EU) 2019/2161 on better enforcement and modernisation of Union consumer protection rules. The new Directive explicitly addresses online reviews and amends the UCPD by introducing transparency requirements for review systems. This leads to more legal certainty for traders and consumers alike, although the new provisions are not detailed and may still allow room for further divergent practice among Member States implementing the said Directive. Description: LL.M.EUR.BUSINESS LAW

2020-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/70107 2021-03-01T06:45:17Z 2020-01-01T00:00:00Z

Title: Regulating a revolution : a study into the viability of an international system for the indirect tax treatment of ICOs Abstract: The rise of Initial Coin Offerings has increasingly overshadowed the traditional IPOs and crowdfunding campaigns. This coupled with the increasing amounts of new virtual currencies which are emerging has made it of paramount importance to ensure an effective regulatory framework. In most jurisdictions however, the tax treatment of such fundraising mechanisms are in a grey area. Without such certainty the incentive to engage in ICOs is dwindling. Furthermore, a repercussion of the legal certainty is that ICO funded companies may struggle to meet their indirect tax obligations or that the likelihood of tax avoidance and evasion based on ICOs will increase. Therefore, the main objective of this thesis is to delve into how tokens are being treated from an indirect tax perspective and to point out how international coordination should be put in place. Description: LL.M.EUR.BUSINESS LAW

2020-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/70103 2021-03-01T06:44:44Z 2020-01-01T00:00:00Z

Title: An assessment of the implementation by Maltese insurance undertakings of the compliance function in terms of solvency II : a comparative study Abstract: This study focuses on one of the main key functions introduced within the Solvency II Directive, the Compliance function. This Directive specifies that such key function is to be properly established and provides requirements on how it should be effectively implemented. The main objective of this study is to assess the implementation of the Compliance function by Maltese Insurance Undertakings writing local risks. As such, the study will provide an overview of the major milestones achieved leading up to the coming into force of the SII Directive together with providing comprehensive information on the requirements relating to the Compliance function emanating from the Solvency II Regulatory framework. Moreover, this dissertation will also provide detail on how such requirements were transposed into the Maltese regulatory framework, with information provided on the requirements emanating therefrom. As noted in the study, the requirements relating to the Compliance function are quite broad in scope and thus, the study will provide an analysis on how the requirements relating to the Compliance function under Solvency II have been effectively implemented within Maltese Insurance Undertakings. It will also provide comparison on the different approaches undertaken by the Compliance officers of the respective Undertakings. This study will also provide a number of recommendations to the Maltese Regulatory Authority on different issues identified through the analysis conducted as mentioned above. Furthermore, an overview of the regulatory framework of three European Union Member States, namely Italy, Latvia and Austria, will be made available explaining how these Member States transposed the requirements of the Compliance function within their regulatory framework. This study will also provide a comparison between these member states in order to determine the differences between the requirements. Description: M.A.FIN.SERVICES

2020-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/70101 2021-03-01T06:44:04Z 2020-01-01T00:00:00Z

Title: De-risking and sources of finance : the EU case Abstract: This thesis focuses on mitigating the effects caused by the 2008 financial crisis that fermented the creation of the finance gap and this may come in scope once again following the global health crisis. Individuals and SMEs requiring funding will find it more easily available should lenders be able to de-risk their position and hence mitigate their liquidity and cash flow risks. The advent of alternative finance in recent years has brought with it a source of liquidity through the power of the crowd and how this can be maximised through the use of securitisation. Securitisation has been around for a long time and since 2013 this has also been used to de-risk alternative finance and loans generated on a peer to peer basis. The thesis delves into the different risks faced by lenders that offer loans via peer to peer lending platforms and the role that securitisation may play in addressing such risks. The discussion within the thesis delves further into how securitisation could be regulated and what benefits will be derived from the regulation of securitisation of peer to peer lending. The focus is placed on a number of themes elicited from the regulatory analysis that are the foundation for any regulatory framework for the regulation of securitisation with peer to peer loans as the securitisation assets. Description: M.A.FIN.SERVICES

2020-01-01T00:00:00Z