The Malta Financial Services Authority (“MFSA” or the “Authority”) has been looking into certain matters related to a Recognised Fund Administrator in relation to the late submission of regulatory information to the Authority. The Authority has considered the goodwill demonstrated by the Recognised Fund Administrator and agreed to settle all pending matters.

Business Activity: Recognised Fund Administrator

FINDINGS:

The MFSA found failings in respect to:

1. SLC 5.2 of Part B.I of the Investment Services Rules for Recognised Persons wherein the Recognised Fund Administrator submitted the Annual Report (including the Audited Financial Statements) for the financial year ended 31 December 2024 after the regulatory deadline;
2. SLC 5.2 (i)(ii) of Part B.I of the Investment Services Rules for Recognised Persons wherein the Recognised Fund Administrator submitted the Letter from the Board of Director’s and Auditor’s Report for the financial year ended 31 December 2024 after the regulatory deadline; and
3. SLC 5.3 of Part B.I of the Investment Services Rules for Recognised Persons wherein the Recognised Fund Administrator submitted the Auditor’s Management Letter for the financial year ended 31 December 2024 after the regulatory deadline.

MEASURES

On 2 October 2026, the MFSA agreed to settle pending matters with the Recognised Fund Administrator after demonstration of goodwill by the Recognised Fund Administrator. By means of a settlement agreement entered into between the Recognised Fund Administrator and the MFSA, the latter imposed an administrative penalty of two thousand, five hundred and twenty Euro (€2,520) on the Recognised Fund Administrator.

PUBLICATION

This notice is being published in terms of the Authority's Settlement Policy.