The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of two thousand and three hundred Euro (€2,300) on the Retail UCITS Scheme.

BREACHES

The MFSA determined that the Retail UCITS Scheme has acted in breach of SLC 1.3(i)(ii) of Appendix II to Part B of the Investment Services Rules for Retail Schemes and SLC 12.8 of Part BII of the Investment Services Rules for Retail Schemes. The Retail UCITS Scheme failed to submit the Director’s Confirmation (related to the annual reporting), the Financial Derivatives Position Report and the Self-Assessment Certificate for the financial year ended 31 December 2021 within the regulatory deadline, as well as the Director’s Confirmation (related to the half yearly reporting) for the financial year ended 30 June 2022 within the regulatory deadline.

REGULATORY ACTION

On 16 July 2024, the MFSA decided to impose an administrative penalty of two thousand and three hundred Euro (€2,300) 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 31 OCTOBER 2024

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