Malta: New Technology

On 19 November, the European Commission published the EU Digital Simplification Package (the "Digital Omnibus") which comprises two proposed laws.

Across Europe, rules once written for human readers are being interpreted by machines.

Artificial intelligence has already sunk deep roots into the way financial services operate. It is guiding risk scoring, detecting unusual patterns in payments, filtering fraud and shaping decisions that once depended entirely on human judgment.

From 2 August 2026, Article 27 of the EU Artificial Intelligence Act ("AI Act") will come into effect

Finance has always evolved around trust. From the first instruments of credit to the emergence of central banks, from clearing houses to electronic trading, the story has been one of institutions slowly absorbing new technologies, sometimes with enthusiasm, often with resistance.

The designation of "high risk" AI systems in the EU's AI Act carries with it the most stringent obligations and is mainly where businesses need to focus their immediate compliance efforts.

The Regulation (EU) 2024/1689 (AI Act), published in July 2024, applies across all sectors, including insurance. The AI Act follows a risk-based approach and classifies AI systems...

Whilst recognising the impact that AI is having on a range of economic sectors and establishing the Malta Digital Innovation Authority (MDIA) to spearhead initiatives...

On June 6 2025, the European Commission ("Commission") has launched a public consultation aimed at gathering stakeholder feedback on the classification and regulatory treatment of high-risk artificial intelligence ("AI")...