The Malta Financial Services Authority (“MFSA” or the “Authority”) has been looking into certain matters related to the Company Service Provider with respect to failings which resulted from the Authority’s supervisory engagement with the Company. The Authority has considered the goodwill demonstrated by the Company and agreed to settle all pending matters.
Business Activity: Company Service Provider under CSP Act.
FINDINGS:
The MFSA’s investigation found failings in respect of:
- Rule 17.03 of the CSP Rulebook (applicable until 15 March 2021 prior to the coming into force of the new CSP Rulebook) wherein the Company Service Provider submitted the Audited Financial Statements and the Auditor’s Management Letter for financial year ending 31 December 2020 after the regulatory deadline.
MEASURES
On 15 March 2024, the MFSA agreed to settle pending matters with the Company Service Provider after demonstration of goodwill by the Company Service Provider. By means of a settlement agreement entered into between the Company Service Provider and the MFSA, the latter imposed an administrative penalty of two thousand eight-hundred and eighty Euro (€ 2,880) on the Company Service Provider.
PUBLICATION
This notice is being published in terms of the Authority’s Settlement Policy.
