Issue link: https://maltatoday.uberflip.com/i/987872
maltatoday | WEDNESDAY • 30 MAY 2018 11 BUSINESS www.creditinfo.com.mt info@creditinfo.com.mt Tel: 2131 2344 Your Local Partner for Credit Risk Management Solutions Supporting you all the way Guide to Malta post-Brexit discussed at London forum IN an effort to showcase what the Maltese jurisdiction can offer and why it should be regarded as a viable solution to EU fund structuring and distribution, FinanceMalta together with member organ- isations, Chetcuti Cauchi Ad- vocates, BOV Fund Services, Camilleri Preziosi Advocates and Apex Funds Services re- cently hosted three distinct panel sessions at the Reform Club, Pall Mall in London. The event was extremely well attended and saw the partici- pation of over 80 delegates from different industry or- ganisations seeking to relo- cate to different jurisdictions following Brexit. FinanceMalta Chairman, Kenneth Farrugia comment- ed that, "Picking the right EU jurisdiction now that Brexit has been unleashed is go- ing to be crucial, not just for start-up managers but also for established industry play- ers in the UK who will need a "Plan B" to ensure continued use of passporting rights to distribute their funds to EU investors." Farrugia added: "Brexit is likely to prove beneficial for EU jurisdictions, including Malta, which continues to ex- perience growth of its funds industry, not just on the fund licensing side but, increas- ingly, through the number of AIFMs being set up on the island." The first panel during the seminar discussed the legal and fund structure consid- eration, while the second dis- cussed operational considera- tions and how Malta's service provider infrastructure stack up; the third and final panel discussed the marketing and distribution of Maltese funds. For further information about upcoming events re- lated to financial services, see the FinanceMalta calendar on www.financemalta.org/ events Better work-life balance for working parents "WE have taken the first step to- wards a better balance between work and private life for all working parents and their fami- lies. Gender equality is a priority for the EPP Group, that is why we welcome this important step for women across Europe, who should enjoy equal opportunities in the labour market and should not have to choose between their careers or their family life," said MEP Agnieszka Kozłowska- Rajewicz, after Monday's vote on the Directive on work-life bal- ance for parents and carers. Kozłowska-Rajewicz is the lead negotiator in the Women's Rights and Gender Equality (FEMM) Committee on the di- rective, which aims to combat discrimination against women in the labour market through better sharing of carer responsibilities between men and women. "Our main objective is to allow women to go back to the labour market more quickly and more efficiently after having a child. By setting paid parental leave of four months for both parents and making it non-transferable from one to the other, we give both mothers and fathers the opportunity to have equal rights to take care of their children and to pursue their professional ca- reers." The directive also proposes to introduce paid paternity leave of a minimum of 10 days in every Member State in the EU and five days of leave for carers who need to look after ill or dependent relatives, such as elderly parents. The report voted yesterday will provide input to the Employ- ment and Social Affairs (EMPL) Committee for their final vote in July. David Casa, responsible in the European Parliament for the file overall, welcomed the FEMM in- put: "Women are often put aside because they tend to be the ones taking maternity and parental leave when welcoming a child. So gender pay and pension gaps do not decrease. This directive is a crucial step to help narrow these gaps." Tourism areas exempt from excavation and demolition works in summer months DEMOLITION and excava- tion works will not be per- mitted within tourism ar- eas during the coming three months of summer. The Malta Tourism Author- ity (MTA) in collaboration with the Building Regula- tion Office (BRO) and the Planning Authority have identified the localities and streets where such works will not be permitted, be- tween the 15th June and the 30th September 2018. Conscious that the demo- lition and excavation phase at a construction site is by far the greatest inconven- ience for the surrounding neighbourhood, the legal notice (LN295/07) miti- gates the nuisance that such sites have on both the tour- ism industry and the num- ber of Maltese families who move to their summer resi- dence. Any illegal excavation and demolition works carried out during this period, in the identified localities and streets, may be reported to the Building Regulation Of- fice on telephone number 2292 7608 (during office hours) or 99637508 (after office hours). The full list of localities and streets where demoli- tion or excavation works are prohibited during the sum- mer months may be viewed on the Planning Authority's website http://www.pa.org. mt/summer-breaktime.