The Malta Financial Services Authority (“MFSA” or the “Authority”) has been looking into certain matters related to an Investment Services Firm in relation to late submission of regulatory information to the Authority. The Authority has considered the goodwill demonstrated by the Investment Services Firm and agreed to settle all pending matters.
Business Activity: Investment Services Firm
FINDINGS:
The MFSA found failings in respect to:
- Rule 4 - 5.3.1 of the Old Part BI Rulebook* wherein the Company submitted the Audited COREP Return, the Audited Financial Statements, the Auditors Management Letter, the Auditors Report and the Auditors Confirmation for financial year ending 31 December 2020 after the regulatory deadline.
- Rule 4 - 5.5.1 of the Old Part BI Rulebook* wherein the Company submitted the Unaudited Quarterly COREP Return Q2 for financial year ending 31 December 2021 after the regulatory deadline.
(* Rulebook applicable until 5 August 2021 prior to the coming into force of the New Rulebook applicable to Investment Services Licence Holders)
MEASURES
On 3 February 2025 the MFSA agreed to settle pending matters with the Investment Services Firm after demonstration of goodwill by the Investment Services Firm. By means of a settlement agreement entered into between the Investment Services Firm and the MFSA, the latter imposed an administrative penalty of four thousand and fifty Euro (€ 4,050) on the Investment Services Firm.
PUBLICATION
This notice is being published in terms of the Authority’s Settlement Policy.
