The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of four thousand three hundred and eighty-seven Euro (€4,387) on the Investment Firm.

BREACHES

The MFSA determined that the Investment Firm has acted in breach of Rule 4 – 5.3.1 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). The Investment Firm failed to submit the Audited COREP Return, the Audited Financial Statements, the Auditors Management Letter, the Auditors Report, the Auditors Confirmation and the Circularisation Exercise for financial year ending 31 December 2020 within the regulatory deadline.

REGULATORY ACTION

On 1 November 2024, the MFSA decided to impose an administrative penalty of four thousand three hundred and eighty-seven Euro (€4,387) 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.