The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of three thousand and three hundred Euro (€3,300) on the CSP.

Business Activity: Company Service Provider

BREACHES

The MFSA determined that the CSP has acted in breach of Rule 17.03 and Rule 17.07 of the CSP Rulebook (applicable until 15 March 2021 prior to the coming into force of the new CSPs Rulebook) in view that the CSP failed to submit the Audited Financial Statements and the Management Letter for the financial year ended 31 March 2021 as well as the Certificate of Compliance for the financial year ended 31 December 2020 within the regulatory deadline.

REGULATORY ACTION

On 5 February 2024, the MFSA decided to proceed with imposing an administrative penalty of three thousand and three hundred Euro (€3,300) on the CSP.

PUBLICATION

This notice is being published in terms of Article 16(8) of the Malta Financial Services Authority Act and the MFSA’s Publication Policy.

UPDATE ON 25 April 2024

The Authority’s decision was not appealed before the Financial Services Tribunal within the period established by law.