The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of two thousand and five hundred Euro (€2,500) on the Investment Firm.

BREACHES

The MFSA determined that the Investment Firm has acted in breach of R40 of Section 1 of Part BIII of the Rules for Investment Services Providers, R 6.18 of Part BIII of the Rules for Investment Services Providers, R 5.09 of Part BII of the Rules for Investment Services Providers, R 6.26 of Part BIII and R 5.17 of Part BII of the Rules for Investment Services Providers. The Investment Firm failed to submit the Audited Annual Financial Return for financial year ended 31 December 2023 and the Interim Q1 Return for financial year ending 31 December 2023 within the regulatory deadline.

REGULATORY ACTION

On 10 January 2025, the MFSA decided to impose an administrative penalty of two thousand and five hundred Euro (€2,500) 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.