The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of eight hundred and fifty Euro (€850) on the Investment Service Provider.

Business Activity: Alternative Investment Fund Manager in terms of the Investment Services Act (Chapter 370 of the Laws of Malta).

BREACHES

The Fund Manager failed to adhere to its obligations in terms of SLC 5.10 of Part BII of the Rules for Investment Service Providers, to submit the Auditor’s Management Letter for the year ended 31 December 2019, within the regulatory deadline.

REGULATORY ACTION

On 18 January 2023, the Malta Financial Services Authority decided to impose an administrative penalty of eight hundred and fifty Euro (€850) on the Investment Service Provider.

The Malta Financial Services Authority has taken this decision in terms of the powers granted to it under Article 16 A.(1) of the Investment Services Act.

PUBLICATION

This notice is being published as part of the MFSA’s standard enforcement policy and in terms of Article 16(8) of the MFSA Act.

UPDATE ON 20 February 2023

The Authority’s decision was not appealed before the Financial Services Tribunal within the period established by law.