Administrative Measures and Penalties


In terms of article 4(1)(c) of the Malta Financial Services Authority Act, one of the MFSA’s functions is to keep the general public informed of important developments in the sector that it regulates, and to provide the public with relevant information and guidance. Article 16(8) of the Malta Financial Services Authority Act also provides that:

Any administrative or disciplinary sanction or measure, of whatever type, including reprimands or warnings, imposed or decided by the Authority under any law for whose administration it is responsible, shall be published in such medium and in such manner and for such duration as may be deemed warranted by the circumstances and the nature and seriousness of the breach or wrongdoing.

Kindly refer to the Publication of Administrative Measures & Penalties Policy which can be accessed here.

 

  Administrative Measures & Penalties issued prior to 2020

AUGUST 07, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of fifteen thousand Euro (€15,000) on the Trustee. Business Activity: authorised to act as a Trustee or Co-Trustee to provide Fiduciary Services in terms of the Trusts and Trustees Act ...
JULY 31, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of twenty thousand seven hundred and sixty Euro (€20,760). Business Activity: Insurance Undertakings BREACHES The MFSA determined that the Company failed to adhere to its obligat ...
JULY 31, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of twenty-one thousand and one hundred Euro (€21,100). Business Activity: Protected Cell companies writing insurance business BREACHES The MFSA determined that the Company failed ...
JULY 29, 2020
The Malta Financial Services Authority (“MFSA”) decided that Mr Blaustein can no longer be deemed to be fit and proper, and is prohibited, in terms of Article 11 of the Company Service Providers Act and Article 16(2)(b) of the Malta Financial Services Authority Act, from holding any position and ...
JULY 29, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing the following regulatory actions against the Company: [i] In terms of Article 6(1)(a), (b), (d) and (g) of the Company Service Providers Act (“CSP Act”), the MFSA has decided to cancel the Company’s registr ...
JULY 17, 2020
The Malta Financial Services Authority decided to proceed with imposing an administrative penalty of twenty-one thousand four hundred and sixty Euro (€21,460). Business Activity: Protected Cell companies writing insurance business BREACHES The Company failed to adhere to its obligations i ...
JUNE 19, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of fifteen thousand Euro (€15,000) on the Company. Address: Suite 10, 189 Marina Suites, Marina Street, Pieta’ PTA 9041 Malta Business Activity: authorised to act as a Trust ...
JUNE 12, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of five thousand Euro (€5,000). Business Activity: Retirement Scheme Administrators BREACHES The Company failed to adhere to its obligations in terms of Article 46(1) of the Reti ...
JUNE 12, 2020
The Malta Financial Services Authority (‘MFSA’) decided to impose an administrative penalty of five thousand Euro (€5,000) on the Occupational Retirement Scheme. Business Activity: Occupational Retirement Schemes - Cross border activities: IORP regulated in Malta accepting sponsorship from ...
JUNE 12, 2020
The Malta Financial Services Authority (“MFSA” or “Authority”) cancelled, on regulatory grounds, the Collective Investment Scheme Licence of MCM Global Opportunities Fund SICAV plc, including the Licence granted to its only Sub-Fund, namely Global Equity Opportunities Fund. Address: Vi ...