The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of four thousand and two hundred Euro (€4,200) on the AIF.

BREACHES

The MFSA determined that the AIF has acted in breach of SLC 5.06 of Part B of the Investment Services Rules for Alternative Investment Funds, SLC 3.38 of Part B of the Investment Services Rules for Alternative Investment Funds and SLC 5.09 of Part B of the Investment Services Rules for Alternative Investment Funds. The AIF failed to submit the Annual Report (including the Audited Financial Statements), the Auditor’s Management Letter and the Custodian’s Report for the financial year ended 31 December 2020 within the regulatory deadline.

REGULATORY ACTION

On 21 December 2023, the MFSA decided to impose an administrative penalty of four thousand and two hundred Euro (€4,200) on the AIF.

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 1 APRIL 2024

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