Issue link: https://maltatoday.uberflip.com/i/1150355
01.08.19 2 REVOLUT, the London-based Fin- Tech with more than six million cus- tomers in the UK and Europe, has to- day launched a commission-free stock trading service across Europe, starting with a gradual rollout to a select num- ber of its Metal card customers. Once available, Revolut Metal card customers will be able to make up to 100 instant free trades in over 300 US listed stocks on the New York Stock Exchange and NASDAQ, supported by real-time price updates and market performance data. is is a growing list of companies, and Revolut intends to add more stocks on a continuous basis. In the coming weeks, Revolut will also roll this service out to their Stand- ard and Premium customers. Stand- ard customers will be limited to three free trades per month, while Premium customers will be limited to eight free trades per month. Trades made out- side of any monthly allowance will be charged at just £1 per trade, and an an- nual custody fee of only 0.01%. ere is no account minimum re- quired to invest and Revolut is provid- ing customers with the opportunity to buy fractional shares for as little as $1, opening up and demystifying the noto- riously closed-off, pricey and complex stock market to an entirely new audi- ence. All currency transactions will be made as usual within Revolut's mul- ti-currency wallet, meaning anyone wishing to invest can transfer money from their home currency account into US Dollars using Revolut's ex- change rates and automatic conversion process. Revolut will be continually devel- oping its investment service, with planned features including access to UK and European stocks, Exchange Traded Funds (ETFs) and the ability to invest via a Stocks and Shares ISA. e plan is to expand access on a global scale, with Revolut users outside of the European Economic Area (EEA) set to benefit in the future. "is is another huge step in our mis- sion to make financial services more inclusive, innovative and affordable. Investing in the stock market has been closed off to ordinary people for far too long, which has led to real problems for people as they search for effective ways to make the most out of their savings," said Nik Storonsky, Founder & CEO of Revolut. "We've made sure that investing through Revolut is low cost, easy to use and available to everyone, even if they only want to try with very small amounts." he said. "is is only the beginning for our commission-free trading offering, as we'll be rolling out access to different markets and invest- ment products in the near future." For the first time in Malta, commission- free stock trading service available through Revolut KARL AZZOPARDI THE Chamber of Commerce is op- posing the right to the chairperson of the Housing Authority to delegate the power to anyone to enter a private residence under the proposed amend- ments to rental laws. While saying the rules were in the right direction, the changes were too cosmetic. "A serious situation can't be fixed in a cosmetic manner," the Chamber said, adding that the rules failed to tackle the main social and economic objective to safeguard the right to adequate and affordable ac- commodation for all residents. Chamber President David Xuereb said that while the proposed unprece- dented access to the Housing Author- ity "might be a mistake", if the law is enacted it will go against the individu- al's fundamental right to privacy. "This part of the bill needs to be re- thought, and re-presented with prop- er and better drafting to meet the de- clared objectives without infringing on the individual's right to peaceful enjoyment with their property, and without being harassed by authori- ties." Xuereb also said that while capping the increase in rental rates to a maxi- mum of 5% per annum, the Bill fails to provide any traditional measures on increases in rental rates between now and the date on which the contracts need to be registered. He also said the new rules fail to ad- dress the issue of shared bedrooms, which according to the Chamber, is a big contributor to the spiralling of rental costs. "In an ever-growing economy, it is unacceptable that such rental set-ups are not properly regu- lated by law," Xuereb said. Xuereb said there was a need for de- tailed regulations on room sizes, the maximum number of tenants permit- ted per square metre, and also health and safety regulation. "We appreciate the fact that the act addresses long- term and short-term rent, but we fail to see any policy that addresses rents between six to twelve months." The Chamber said the Bill "superfi- cially distinguishes" between short- term and long-term residential con- tracts, but leaves contracts running between six to twelve months 'in lim- bo'. While establishing a register of lease contracts, it is limiting the govern- ment's access to lease contracts with- out contributing to the betterment of the rental market in making it reason- able and affordable. Chamber takes issue with Authority's power to enter private residences Private Residential Leases Act