Administrative Measures and Penalties


In terms of article 4(1)(c) of the Malta Financial Services Authority Act, one of the MFSA’s functions is to keep the general public informed of important developments in the sector that it regulates, and to provide the public with relevant information and guidance. Article 16(8) of the Malta Financial Services Authority Act also provides that:

Any administrative or disciplinary sanction or measure, of whatever type, including reprimands or warnings, imposed or decided by the Authority under any law for whose administration it is responsible, shall be published in such medium and in such manner and for such duration as may be deemed warranted by the circumstances and the nature and seriousness of the breach or wrongdoing.

Kindly refer to the Publication of Administrative Measures & Penalties Policy which can be accessed here.

 

  Administrative Measures & Penalties issued prior to 2020

SEPTEMBER 23, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one hundred and fifty thousand euros (€150,000) and directed Dennis Muscat to cease the activity of introducing investment services clients to locally licensed investment firms for a p ...
SEPTEMBER 17, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) has decided to cancel the Scheme’s Collective Investment Scheme Licence including the licence granted to its four (4) sub-funds, namely Innovative Investment Fund; Perfectum Fund; Exclusive Gold and Precious Metals Fund; an ...
SEPTEMBER 11, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) has decided to cancel the Scheme’s collective investment services licence including the licence granted to its six (6) sub-funds, namely Personal Care Fund; Special Situations Fund; Vintage Watches Fund; Primatist Multi Str ...
SEPTEMBER 11, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) decided that Mr John Anthony Farrell can no longer be deemed as being fit and proper and to hold any approved positions. BREACHES The Authority has determined that various breaches of Standard Licence Conditions (“SLC ...
SEPTEMBER 11, 2020
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of five thousand Euro (€5,000) on the Company. Address: HHF 303, Industrial Estate, Hal Far, Birzebbugia, BBG 3000 Malta Business Activity:  Bonds issued by the Company and a ...
AUGUST 29, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) has decided to cancel the Company’s investment services licence by virtue of the powers granted under Article 7(2)(a), (b), (c) and (g) of the Investment Services Act and with imposing a number of directives against MPM. ...
AUGUST 29, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) decided that Mr Melvyn Mangion can no longer be deemed as being fit and proper and to hold any approved positions. REGULATORY ACTION On 28 August 2020, the MFSA has decided that Mr Melvyn Mangion can no longer be deemed ...
AUGUST 29, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) decided that Mr Alexander Mangion can no longer be deemed as being fit and proper and to hold any approved positions. REGULATORY ACTION On 28 August 2020, the MFSA has decided that Mr Alexander Mangion can no longer be ...
AUGUST 12, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) has decided to proceed with the withdrawal of the Institution’s licence. Address: Office Number 236, Regus Tower Business Centre, 2nd Floor Tower Street, Swatar, Birkirkara BKR 4013 Malta Business Activity: Fin ...
AUGUST 07, 2020
The Malta Financial Services Authority (“MFSA” or “the Authority”) has decided to proceed with the withdrawal of the Institution’s licence and with imposing the following directives: [i] to proceed with returning all clients’ funds held by the Institution according to the timelines in ...