The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand and fifty Euro (€1,050) on a Registered Investment Manager.

BREACHES

The MFSA determined that the Registered Investment Manager has acted in breach of Article 20 of the Retirement Pensions Act and Paragraphs B.4.3.15, B.4.3.17 and B.4.3.18 of the Pension Rules for Service Providers.

REGULATORY ACTION

On 25 January 2024, the MFSA decided to impose an administrative penalty of one thousand and fifty Euro (€1,050) on the Registered Investment Manager.

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.

UPDATE ON 5 MARCH 2024

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