Regulatory Action against Phoenix Payments Limited (“the Company”)
MARCH 12, 2021

The Malta Financial Services Authority (‘MFSA’) decided to appoint an Inspector in terms of Article 15(1) of the Financial Institutions Act to investigate and report on the affairs of the Company.

Address:

No3, Level 01, Vision Exchange Buildings
Territorials Street
Birkirkara BKR 3000 

Business Activity – Financial Institution authorised under the Financial Institutions Act

Supervisory Action

The MFSA has on the 11 March 2020, decided to appoint an Inspector, in terms of Article 15(1) of the Financial Institutions Act, to, inter alia:

  1. Review and assess any remedial action undertaken by the Company to address the shortcomings identified by the Authority following an on-site inspection carried out in 2020;
  2. Review and assess the Company’s handling of complaints received from clients and other interested parties; and
  3. Review and assess what remedial measures, if any, are adopted by the Company in reaction to complaints received by clients and other interested parties.

Publication

This notice is being published in terms of article 16(8) of the Malta Financial Services Authority Act.