The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of seven thousand and fifty Euro (€7,050) on a Financial Institution.

BREACHES

The MFSA determined that the Financial Institution has acted in breach of Article 17b of the Financial Institutions Act and 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 Annual Audited Financial Statements and the Auditor’s Management Letter for the financial years end 2020 and 2021 in a timely manner.

REGULATORY ACTION

On 13 March 2025, the MFSA decided to impose an administrative penalty of seven thousand and fifty Euro (€7,050) 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.