On the 15th May 2019, the Malta Financial Services Authority (“MFSA”) has decided to restrict the licence of Money+Card Payment Institution Ltd (“the Institution”), in terms of article 6(4) (c) and (d) of the Financial Institutions Act, as follows:
The Institution and all its officials or any connected persons or related persons thereto, whether direct or indirect, henceforth and until further notice, are to refrain, cease and desist, with immediate effect, from undertaking any activity for which they have been licenced in terms of the Financial Institutions Act. The Institution shall obtain the Authority’s prior written approval before effecting any other transactions related to the payment of salaries and essential services.
This restriction is immediately applicable and shall remain operative until the Authority directs otherwise, including if the Institution, for whatever reason, ceases to hold a licence.
This notice is being published in terms of article 6(8) of the Financial Institutions Act and article 16(8) of the Malta Financial Services Authority and as part of the MFSA’s standard enforcement policy.