The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of seven hundred and fifty Euro (€750) on the Retirement Pension Service Provider.

Business Activity: Service Provider in terms of the Retirement Pensions Act (Chapter 514 of the Laws of Malta).

BREACHES

The Company failed to adhere to its obligations in terms of Part B 4.3.17 of the Pension Rules for Service Providers to submit the Unaudited Annual Financial Return for the year ended 31 December 2019, within the regulatory deadline.

REGULATORY ACTION

On 24 June 2022, the Malta Financial Services Authority decided to impose an administrative penalty of seven hundred and fifty Euro (€750) on the Retirement Pension Service Provider.

The Malta Financial Services Authority has taken this decision in terms of the powers granted to it under Article 46 of the Retirement Pensions Act.

PUBLICATION

This notice is being published as part of the MFSA’s standard enforcement policy and in terms of Article 16(8) of the MFSA Act.

UPDATE ON 21 JULY 2022

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