The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of five thousand and fifty Euro (€5,050) on the Retail UCITS Scheme.

BREACHES

The MFSA determined that the Retail UCITS Scheme has acted in breach of SLC 12.8 of Part B of the Investment Services Rules for Retail Schemes, SLC 2.12 of Appendix II to Part B of the Investment Services Rules for Retail Schemes and SLC 1.3(i)(ii) of Appendix II to Part B of the Investment Services Rules for Retail Schemes. The Retail UCITS Scheme failed to submit on time the Annual Report (including the Audited Financial Statements) and the Custodian Report for the financial year ended 31 December 2021. In addition, the Retail UCITS Scheme has not yet submitted the Director’s Confirmation and the Auditor’s Report (both related to the annual reporting) and the Financial Derivatives Position Report for the financial year ended 31 December 2021, as well as the Director’s Confirmation (related to the half yearly reporting) for the period ended 30 June 2022.

REGULATORY ACTION

On 8 January 2025, the MFSA decided to impose an administrative penalty of five thousand and fifty Euro (€5,050) on the Retail UCITS Scheme.

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.