The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of three thousand, two hundred and fifty Euro (€3,250) on the Recognised Private Collective Investment Scheme.

BREACHES

The MFSA determined that the Recognised Private Collective Investment Scheme has acted in breach of SLC 3.1 of Part BII of the Investment Services Rules for Recognised Persons in view that it failed to submit the Audited Financial Statements and the Auditor’s Report for the financial year ended 31 December 2021 within the regulatory deadline.

REGULATORY ACTION

On 24 January 2024, the MFSA decided to impose an administrative penalty of three thousand, two hundred and fifty Euro (€3,250) on the Recognised Private Collective Investment Scheme.

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.

UPDATE ON 31 OCTOBER 2024

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