The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of five hundred Euro (€500) on a Financial Institution.

BREACHES

The MFSA determined that the Financial Institution has acted in breach of Paragraph 35 of the Financial Institutions Rules – Supervisory and Regulatory requirements of Institutions authorised under the Financial Institutions Act 1994 (FIR/02) due to its failure to submit the Auditor’s Management Letter for the financial year end 2020 in a timely manner.

REGULATORY ACTION

On 13 March 2025, the MFSA decided to impose an administrative penalty of five hundred Euro (€500) on the Financial Institution.

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.