The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand and one hundred Euro (€1,100) on the Investment Firm.

BREACHES

The MFSA determined that the Investment Firm has acted in breach of Rule 4 – 5.5.1 of the Old Part BI Rulebook (the latter applicable until 5 August 2021 prior to the coming into force of the New Rulebook applicable to Investment Services License Holders), and Rule 1 – 2.2.1 of the ISRs Rulebook. The Investment Firm failed to submit the Unaudited Quarterly COREP Return Q3 and the Circularisation Exercise 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 one thousand and one hundred Euro (€1,100) on the Investment Firm.

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.