The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of six hundred and fifty Euro (€650) on a VFASP.

BREACHES

The MFSA determined that the VFASP has acted in breach of R3-3.5.4.4.3 of the VFA Rulebook.

REGULATORY ACTION

On 28 June 2024, the MFSA decided to impose an administrative penalty of six hundred and fifty Euro (€650) on the VFASP.

It should be noted that the MFSA’s decision may be appealed before the Financial Services Tribunal within the period as prescribed by the applicable law.

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 7 AUGUST 2024

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