The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand Euro (€1,000) on the Retail UCITS Scheme.

BREACHES

The MFSA determined that the Retail UCITS Scheme has acted in breach of SLC 1.3(i) of Appendix II to Part B of the Investment Services Rules for Retail Schemes. The Retail UCITS Scheme failed to submit the Director’s Confirmation and the Auditor’s Report (both related to the annual reporting) for the financial year ended 31 December 2021 within the regulatory deadline.

REGULATORY ACTION

On 21 December 2023, the MFSA decided to impose an administrative penalty of one thousand Euro (€1,000) 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.

UPDATE ON 1 APRIL 2024

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