The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand and three hundred Euro (€1,300) on the Investment Firm.

BREACHES

The MFSA determined that the Investment Firm has acted in breach of Rule 4 – 5.3.1 and 5.5.1 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 Auditors Confirmation for financial year ended 30 September 2020 and the Unaudited Quarterly COREP Return Q1 for financial year ending 30 September 2021 within the regulatory deadline.

REGULATORY ACTION

On 1 November 2024, the MFSA decided to impose an administrative penalty of one thousand and three hundred Euro (€1,300) 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.