The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of two thousand Euro (€2,000) on the Trustee.

BREACHES

The MFSA determined that the Trustee has failed to adhere to its obligations in terms of Regulation 5(2) of the Trusts and Trustees Act (Register of Beneficial Owners) Regulations to submit the Annual Declaration by not later than 31 January 2022.

REGULATORY ACTION

On 14 December 2023, the MFSA decided to impose an administrative penalty of two thousand Euro (€2,000) on the Trustee.

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.