The Malta Financial Services Authority ("MFSA" or the "Authority") has been looking into certain matters related to a Company Service Provider in relation to late submission of regulatory information to the Authority. The Authority has considered the goodwill demonstrated by the Company Service Provider and agreed to settle all pending matters.

Business Activity: Company Service Provider

FINDINGS:

The MFSA found failings in respect to:

1. Rule 17.02 of the CSP Rulebook (the latter applicable until 15 March 2021 prior to the coming into force of the new CSP Rulebook) wherein the Company Service Provider submitted the Annual Compliance Return for financial year ending 31 December 2020 after the regulatory deadline;
2. Rule 17.03 of the CSP Rulebook (the latter applicable until 15 March 2021 prior to the coming into force of the new CSP Rulebook) wherein the Company Service Provider submitted the Audited Financial Statements and the Auditor's Management Letter for financial year ending 31 December 2020 after the regulatory deadline; and
3. Rule 17.07 of the CSP Rulebook (the latter applicable until 15 March 2021 prior to the coming into force of the new CSP Rulebook) wherein the Company Service Provider submitted the Certificate of Compliance for financial year ending 31 December 2020 after the regulatory deadline.

MEASURES

On 20 February 2024 the MFSA agreed to settle pending matters with the Company Service Provider after demonstration of goodwill by the Company Service Provider. By means of a settlement agreement entered into between the Company Service Provider and the MFSA, the latter imposed an administrative penalty of five thousand three hundred and twenty-four Euro (€5,324) on the Company Service Provider.

PUBLICATION

This notice is being published in terms of the Authority’s Settlement Policy.