Consultation: Crowdfunding in the EU – exploring the added value of potential EU action

The European
Commission has launched a consultation inviting stakeholders to share their
views about crowdfunding: its potential benefits, risks, and the design of an
optimal policy framework to untap the potential of this new form of financing.

Commissioner
for Internal Market and Services Michel Barnier said: "Crowdfunding – this
alternative form of fundraising that is collective, participatory and
interactive – is becoming increasingly important. It has the potential to
bridge the financing gap many start-ups face and to stimulate entrepreneurship.
Considering the development of crowdfunding and the diversity of regulatory,
supervisory, fiscal and social frameworks for it across the EU, do we need a
single European framework to support both those who develop crowdfunding
platforms and to reduce the risks to those who make use of such platforms to
finance projects. That is what I am asking."

Whereas
many crowdfunding campaigns are local in nature, others would benefit from
easier access to financing within a single European market. But to make sure
crowdfunding is not just a momentary trend that fades away, but rather a
sustainable source of financing for new European projects, certain safeguards
are needed, in particular to ensure people's trust. The ultimate objective of
this consultation is to gather data about the needs of market participants and
to identify the areas in which there is a potential added value in EU action to
encourage the growth of this new industry, either through facilitative,
soft-law measures or legislative action.

The
consultation covers all forms of crowdfunding, ranging from donations and
rewards to financial investments. Everyone is invited to share their opinion
and fill in the on-line questionnaire, including citizens who might contribute
to crowdfunding campaigns and entrepreneurs who might launch such campaigns.
National authorities and crowdfunding platforms are also particularly
encouraged to reply.

The
consultation will run until 31 December 2013. It is available at: 

http://ec.europa.eu/internal_market/consultations/2013/crowdfunding/index_en.htm

 

 

EU, China move to mend fences and open markets


Trade ministers
from the European Union's member states will next Friday (18 October) formally
give the European Commission a mandate to negotiate an investment agreement
with China.

The
mandate, which passed through the member states' working group on trade without
comment on 2 October, would help to put the EU's trade relationship with China
on a positive footing after months of disputes over Chinese producers' pricing
of solar panels and telecommunications equipment.

Last
month, Karel De Gucht, the European commissioner for trade, suggested that an
investment agreement would open the way to far deeper liberalisation. "Over
time, there will be a free-trade agreement between China and Europe. I am sure
about that," De Gucht said.

Accessing
more areas

The
negotiations would seek to open the many sectors of the Chinese economy that
European companies say are closed off to them, or to which access is possible
only with many conditions attached. The other track would look at the
protection of investments.

At
present, investment in both directions is relatively small, though growing.
Just 2.1% of the EU's foreign direct investment is in China, De Gucht told the
European Parliament on Tuesday (8 October).

An
investment agreement is seen as valuable for China principally as an assurance
that the EU's market will remain open in the long term.

Points
of concern

De Gucht
told Parliament that sustainable development and "a reference in support of
internationally recognised standards of corporate social responsibility" would
be among the points of particular concern for the EU.

The
Commission has not indicated when it would hope to complete talks on what would
be the first stand-alone investment agreement negotiated by the EU. It says
that an estimate is difficult, because it is aiming for ambitious results. The
Commission's usual ambition is to complete free-trade agreements, which now
include investment agreements, within two years.

Talks
could receive the blessing of China's leaders at the EU-China summit. De Gucht
said that the summit will be held on 21 November, though the date has not yet
been confirmed by China.

The EU
and China will hold their first high-level trade and economic dialogue in more
than two years on 24 October, a sign that both sides want to move beyond the
rancour that characterised the dispute over the dumping of Chinese solar
panels. The case was effectively settled in August, when Chinese producers
agreed to a minimum sales price.

The EU's
member states gave the Commission the power to negotiate terms for investment
protection in 2009, when they ratified the Lisbon treaty. Investment issues
will now be normal elements of the EU's free-trade talks.

Around
100 of the Commission's trade officials had expected to spend the week in talks
with US counterparts on a transatlantic free-trade deal. However, the week-long
second round of negotiations was called off late last Friday (4 October)
because of the shutdown of large parts of the US government caused by a dispute
over the US budget. Once the shutdown is over, the talks will resume as a
matter of priority, officials say.

Brokerage Event Scheme 2013


Call for
Applications for participation in Brokerage Events and Pre-Submission
Consortium Meetings – 2013The objective of the scheme is to facilitate
participation in HORIZON 2020 through participation in brokerage events and
meetings held in preparation of project proposals. For more information visit: http://www.mcst.gov.mt/node/613

The deadline
for application forms is 31 October 2013

MEUSAC Consultation Sessions


The Malta-EU
Steering and Action Committee (MEUSAC) will be organising a consultation
session on ‘Proposal for a Council Directive Amending Directive 2011/16/EU as
regards mandatory automatic exchange of information in
the field of taxation'.   

This consultation
session will focus on a system of automatic exchange of information through
which Member States collect data on income earned in their territory by
non-resident individuals. They then automatically transmit this data to the
authorities where the individual resides, so that it can be taxed in line with
the Member State of residence's rules.

The consultation session
will be held on Friday, October 25th, 2013 at 2:30 p.m. at MEUSAC, 280,
Republic Street, Valletta.

 

The Malta-EU
Steering and Action Committee (MEUSAC) together with the Ministry of Tourism
will be organising a consultation session on a Directive from the European
Commission entitled ‘Package travel
and assisted travel arrangements, amending Regulation (EC) No 2006/2004,
Directive 2011/83/EU and repealing Council Directive 90/314/EEC'.

The proposed
Directive will clarify and modernise the scope of travellers' protection when
purchasing combinations of travel services for the same trip or holiday by
bringing within its scope different forms of on-line packages and assisted
travel arrangements. The Proposal will also ensure that travellers are better
informed about the services they are buying and grant them clearer remedies if
something goes wrong.

The consultation session
will be held on Monday, October 14, 2013 at 2.00pm at Europe House, 254, St
Paul's, Street, Valletta. Proceedings will be held in Maltese

To register, please contact:

Competition Law – How does it affect you?


MCCAA Chairman
Marcel Pizzuto opened and  chaired the
Seminar while  a number of competition law
experts covered various substantive and procedural issues. The
harmful effect of cartels on consumer welfare, the consequences on cartelists
and the remedies for victims of cartels were explained in detail in a
presentation delivered by Sylvann Aquilina Zahra, Director General of the
Office for Competition.

Stefan
Vella and Marice Grech  provided an
overview on the concepts of dominance and abuse from a legal and economic
perspective. Their presentation focused on how the Office proceeds on alleged
abuse of dominance cases. They also explained how the definition of the market
and the competition assessment are undertaken.

Their
presentation also delved into examples of types of abuse and how these are
investigated.

In most
European jurisdictions, it is mandatory for certain transactions occurring in
Malta to be notified to the Office for Competition before they can go through.
The seminar also provided a brief overview of when, how and why companies may
be affected by the Control of Concentrations 
Regulations. Lisa Abela and Ms Grech discussed the national approach to
the Merger and Acquisition Regulations.

The
procedures before the Office were also discussed.  Dr Aquilina Zahra and Dr Abela explained
priority setting by the Office for Competition and the rights and obligations
of complainants.

Aloysius
Bianchi focused on the powers of the Office for Competition to investigate
effectively suspected competition law infringements, the outcome of the
investigation stage and when the Office can adopt infringement or commitment
decisions.

He also
explained the main features of the draft regulations concerning immunity from
fines and reduction of fines in cartel investigations.

Practical
issues relating to the application of competition law and anti-trust investigations
carried out by the Office for Competition were raised by Paul Micallef Grimaud.

Various
questions from the floor were raised most of which were addressed  and handled by the competition experts.

The
seminar was organised as part of an information campaign aimed at creating
greater awareness about the responsibilities of the MCCAA and the rights and
obligations of consumers and traders.

In her
closing speech Hon Helena Dalli, Minister for Social Dialogue, Consumer
Protection and Civil Liberties referred to Competition as a driving force of a
market economy since it is that mechanism which instigates undertakings to
offer goods and services at the most competitive, and therefore favourable,
terms and conditions. Competition she said also encourages companies and all
economic operators to be efficient and to come up with more innovative products
and services. For the individual consumer, competition ensures lower prices,
better quality and wider choice. For the economy as a whole, competition boosts
and supports economic growth. Hon Dalli also emphasised on the importance of
competition law and an effective competition law enforcement policy to protect
competition so as to safeguard our economy and consumer welfare.

Anyone
wishing to have further information 
kindly contact The Malta Competition and Consumer Affairs Authority
(MCCAA) on tel: 2395 2000 – web: www.mccaa.org.mt

Is-Sahha u s-Sigurta’ fuq il-Post tax-Xoghol


Ufficjali
tal-GRTU attendew Seminar interessanti bit-tema "Is-Sahha u s-Sigurta' fuq
il-Post tax-Xoghol-Principli, Drittijiet u Obligi", f'Għawdex. Is-Seminar gie
organizzat mill-Awtorita għas-Saħħa u s-Sigurta' fuq il-post tax-Xogħol
bl-għajnuna tal-Aġenzija Ewropea, u b`kollaborazzjoni tal-Gozo Business
Chamber.

Huwa
essenzjali li f`kull post tax-xogħol, is-saħħa u s-sigurta' tingħata l-ewwel
importanza. Kemm min iħaddem kif ukoll il-ħaddiema għandhom jassiguraw li
jittieħdu dawk il-miżuri meħtieġa biex ikunu evitati kemm jista' jkun inċidenti
u mwiet waqt il-qadi ta` dmirijiethom.

Is-Seminar
infetaħ uffiċjalment mill-Ministru għas-Saħħa, l-Onor. Dr. Godfrey Farrugia li
fl-intervent tiegħu rrimarka li l-Awtorita' għas-Saħħa u s-Sigurta' fuq il-Post
tax-Xogħol hija stituzzjoni ta` mportanza nazzjonali, u li ilha tagħti servizz
utli għal dawn l-aħħar 12-il sena. Huwa kompla jgħid li s-seminar huwa xhieda
tal-ħidma li tagħmel l-Awotorita` flimkien mal-imsieħba soċjali, f`dan il-każ,
il-Gozo Business Chamber.  Il-Ministru
Farrugia rringrazzja wkoll lill-Aġenzija Ewropea tal-appoġġ li dejjem tat
lil-OHSA-Malta, xhieda li kif kienet aċċenat id-Direttur tal- Aġenzija Ewropea,
Dr. Christa Sedlatshek meta kienet ġiet Malta f'Jannar tal-2012,  fl-okkażżjoni tal-10 Annivesarju minn mindu
twaqfet l-Awtortia' Maltija, jeżisti rispett reċiproku bejn dawn iż-żewġ
entitajiet.

L-Onor
Deo Debattista, Chairperson tal-Awtorita, kompla billi qal li din l-attivita`
għalih tirrappreżenta sodisfazzjon doppju, sodisfazzjon li s-seminar qed ikun
organizzat għall-ewwel darba f'Għawdex u sodisfazzjon għaliex din hija l-ewwel
ativita' pubblika li kien qed jieħu sehem fiha min mindu ġie appuntat
Chairperson tal-Awtorita'.  L-Onor.
Debattista awgura lil dawk preżenti li s-seminar ikun ta` benefiċċju għalihom u
li jgħinhom jifhmu mhux biss l-obbligi legali, imma li huwa fl-aħjar interess
għall-intrapriżi li jirrapreżentaw, li jittieħdu dawk il-miżuri kollha li hemm
bżonn biex jiġu evitati kemm jista' jkun inċidenti u mwiet fuq il-postijiet tax-xogħol.

Matul
il-preżentazzjonijiet tal-ufficjali tal-Awtorita`, saret referenza dwar
l-importanza tal-"Evalwazzjoni tar-Riskju fuq ix-Xogħol" u r-"Rappreżentant
tas-Saħħa u s-Sigurta` tal-Ħaddiema" dwar saħħa u sigurta` fuq il-postijiet
tax-xogħol. Wieħed mill-uffiċjali tkellem dwar ir-relazzjoni li teżisti bejn
l-investimenti li jsiru minn min iħaddem favur is-saħħa u s-sigurta` fuq
il-post tax-xogħol, u l-benneffiċji li jirriżultaw għall-istess intrapriżi, kif
ukoll għall-ħaddiema nvoluti.  Is-Sur
Michael Grech, Presedent tal-Gozo Business Chamber qal li ċ-Chamber hija konxja
tal-importanza tat-tisħieh kontinwu tal-legislazzjoni li tirregola s-saħħa u
s-sugurta` fuq il-post tax-xogħol.  Huwa
ferm importanti li mhux biss min iħaddem ikun imfrumat sewwa dwar l-obbligi
biex jinżamm ambjent san fuq il-postijiet tax-xogħol, imma l-ħaddiema għandhom
ikunu mfurmati sewwa dwar id-drittijiet u l-obbligi tagħhom.  Il-Gozo Business Chamber tapreżża x-xogħol
siewi ta` l-OHSA li minn żmien għal-żmien torganizza żjajjar ta` rutina fuq
diversi postijiet tax-xogħol u b` hekk twassal il-messagg kemm lil min iħaddem
kif ukoll lil-impjegati. 

Għalaq
is-Seminar ir-rappreżentant tal-Ministeru għal Għawdex li f`isem l-Onor Anton
Refalo, enfasizza li l-ħarsien tas-saħħa u s-sigurta` fuq il-post tax-xogħol
jista' jevita numru ta` problemi li xi minn daqqiet jistgħu jkollhom
riperkussjonijiet kbar, kemm fuq l-operat tal-ażjendi, fuq il-ħaddiema, kif
ukoll fost il-membri tal-familji li jibqgħu jgorru l-konsegwenzi realtati ma`
korrimenti u mwiet għal ħajjithom kollha.

EU Comm says no to social partner agmnt of hairdressers


In its "Refit –
fit for growth" Communication published on the 2nd of October 2013, the
Commission has blocked the request of the social partners in hairdressing to
transform their agreement on health and safety into law. While not taking a
final decision, the Commission said that it does not intend to address the
issue until 2015 – at the end of a broader review on occupational health and
safety legislation.

The
decision comes after Commissioner Andor gave trade unions assurance on behalf
of President Barroso that the Commission will only decide "on the basis of a
comprehensive and impartial assessment of the agreement".

GRTU
welcomes this decision not to confirm the framework agreement because we are
against health and safety in the hairdressing sector, on the contrary we were
in favour of the objective of the framework agreement and in fact many of our
members already implemented most of what was stated in the framework agreement.
We however felt that the agreement lacked sensitivity to the realities of the
hairdressing sector and this also because it lacked a real representation of
the social partners representing hairdressers. GRTU does not feel that the
situation of health and safety with hairdressers can be solved with a simple
one size fits all solution. In addition to this some aspects related to the
requirement of light intensity and air circulations in the salons were vague
and needed to be further specified.

The
reality with the hairdressing sector, locally at least, is that the share of
unlicensed hairdressers operating is significant. Should a framework agreement
have been adopted the licensed hairdressers would be expected to abide by it
like they do with all other laws. The unlicensed ones would not have been
addressed in the slightest.

GRTU
therefore reiterates that we and our members are in favour of occupational
health and safety also because most of the time this means safeguarding the
health and safety of the business owners themselves, their family members and
that of their employees. Certain sectors however are already carrying the burden
of others enough, further additions are not appreciated.

Importaturi tal-Frott joperaw f’Ta’ Qali


L-GRTU iltaqghet mall-Onorevoli Roderick Galdes flimkien ma' Victor Agius, Chief of Staff u s-Sur George Carbone – Konsulent ghall-Gvern
fuq Agrikoltura fejn giet diskussa fid-dettal l-pozizzjoni ta' dawn
l-operaturi.        

L-GRTU taqbel mall-proposta
li l-Pitkalija ghandha bzonn tigi orgnizzata sabiex tkun tista twassal servizz
ahjar, pero, hi kemm xejn mhassba dwar l-pjan imsemmi fl-istess laqgha li
jghaqqad l-istakeholders kollha fi
progett wiehed.

Ricentament,
il-GRTU ghan-nom ta' dawn l-operaturi regghet talbet laqgha  ohra
mall-Onorevoli Galdes sabiex tigi diskussa l-espressjoni ta' interess u tinghata izjed
informazzjoni fuq il-mod ta' kif il-gvern ser jagixxi fil-konfront ta' din
l-espressjoni ta' interess specifikament relatata mall-importazzjoni tal-frott.

Il-GRTU qeghda titlob ukoll sabiex
jergghu jsiru laqghat ma l-istakeholders kollha qabel ma
tittiehed decizjoni finali.

Lack of Enforcement by MEPA and where it led to…..

Packaging
waste compliance – The lack of Enforcement by MEPA
Enforcement Directorate led by whoever was responsible prior to March 8th was
rampant. From January 2012 right up to the eve of this year's March Elections. It is not usual for GRTU to write
about the past, but this is one instance where we truly feel that Bona-Fide
importers, traders and manufacturers should know nothing less than the truth.

By the end of 2010, the two
Authorised schemes, Green MT & Greenpak (now Co op) had just over 400
producer members financially backing the schemes and duly registered with MEPA.
Green MT had 120 members who declared a market placement of 11,600 tons whilst
the remaining were Greenpak's members and placed just over 11,900 tons of
packaging waste in the market.

By mid 2010, Green MT had legally
complied to its obligations both under MEPA permit conditions and those imposed
by the Legal Notice 84 of 2010 (Eco Contribution Exemption Regulations).

Green MT was obliged to recover just
over 6000 tons of packaging waste whilst Greenpak recovered just over 6100
tons. Under instructions from Government, Green MT continued its logistical
operations across 41 local Councils (at the time) and recovered over 14,100
tons by the end of the calendar year.

Green MT entered into discussions
with Government and the Authorities to make sure that operation in the
subsequent years would be sustainable and an agreement would be reached over
excess tonnage collected in 2010.

After months of continued discussions
with all stakeholders, it was decided that MEPA issues a circular to all
defaulting producers (all those who were not members and neither self
compliant) to join a scheme by end May 2011 and in the process were liable for
fines and administrative penalties at Euro 100 per ton of market placement as
from January 01, 2010.

It was this circular that awakened
producers who flocked to join both Authorised Schemes and also signed
"Settlement Agreements" with MEPA. Scheme members by end of 2011 increased from
just over 400 to over 2600. MEPA issued over 1200 penalties amounting to
hundreds of thousands of Euros, many of which were paid. A number were
contested legally and we are informed are still pending to date.

Then all of a sudden, the Enforcement
which was so ably handled by the Compliance Unit was transferred to the
Enforcement Directorate.

From January 01, 2012, schemes and
Bona-Fide traders started an uphill struggle. All files relating to Enforcement
were forwarded to the Enforcement Directorate. They did not comprehend the
massive task that hit them overnight. We are informed that by June of 2012
employees were still taking the files out of the boxes they had been delivered
in. By the end of the year no enforcement took place. We are told a number of
penalties amounting to Euro 96,000 were prepared and never issued. We are told
they were awaiting legal advice.

In the meantime word spread around
that as an election vote catching gimmick no enforcement was taken seriously
and no penalties were issued at all. Suddenly there were traders and companies
who informed schemes that they were no longer importing and as thus requested
de-registration. So now members were on the decrease too.

To add insult to injury this shambles
of an Enforcement Directorate continued on the same path till the eve of the
election. Questions asked by Green MT in relation to data of defaulters, self
compliant, free riders, requested in mid 2012 were only answered on 7th March
at 5.08pm. Truly and disgustingly unbelievable.

For this reason alone, whoever led
this Enforcement Directorate should be sacked overnight for blatantly breaching
the Aarhaus Convention.

The mess resulting form lack of
Enforcement has led to unsustainable operations and the creation of a black
market economy in the sector, i.e. buying of recycling certificates which is
not the acceptable norm amongst other charades.

GRTU, who today still runs its own
subsidiary Green MT wants answers to this mess created by the Enforcement
Directorate since January 01, 2012.

Malta Chamber of SMEs
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.