The Malta Financial Services Authority (“MFSA” or the “Authority”) decided that Mr Garipoglu can no longer be deemed as being fit and proper to hold any approved positions by the MFSA.

REGULATORY ACTION

On 2 October 2026, the MFSA has decided that Mr Garipoglu can no longer be deemed as being fit and proper to hold approved positions by the MFSA. Therefore, in terms of Article 15 of the Investment Services Act (Chapter 370 of the Laws of Malta) (“ISA”), the MFSA has directed Mr Garipoglu to:

1. Divest at the earliest possible and within six (6) months from the date of the MFSA’s decision, of all the qualifying shareholding which he holds, whether directly or indirectly in Trive; and
2. Prohibit him from accepting any new positions, which necessitate the approval of the Authority in entities or in relation to activities licensed and/or otherwise supervised by the MFSA for a period of 10 years.

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.