The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of three thousand and five hundred Euro (€3,500) 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 5.09 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 5.06(i) of Part B of the Investment Services Rules for Alternative Investment Funds. The AIF failed to submit the Audited Financial Statements, the Custodian’s Report, the Auditor’s Management Letter and the Annual Fund Return for the financial year ended 31 December 2021 within the regulatory deadline.

REGULATORY ACTION

On 11 September 2024, the MFSA decided to impose an administrative penalty of three thousand and five hundred Euro (€3,500) 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.