The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of two thousand five hundred Euro (€2,500) on the Company.
Solon Director (Malta) Limited
4th Floor, Avantech Building
St Julian’s Road
San Gwann SGN 2805
Business Activity: Provision of company services in terms of the Company Service Providers Act (Chapter 529 of the Laws of Malta).
The Company failed to adhere to its obligations in terms of Rule 17.03 of the Rules for Company Service Providers (“CSPs”) (the latter applicable until 15 March 2021 prior to the coming into force of the new CSPs Rulebook), to submit the Audited Financial Statements and Auditors’ Management Letter for the year ended 30 April 2020 within the regulatory deadline.
On 1 December 2021, the Malta Financial Services Authority decided to impose an administrative penalty of two thousand five hundred Euro (€2,500) on the Company.
The Malta Financial Services Authority has taken this decision in terms of the powers granted to it under Article 9(1) of the Company Service Providers Act.
It should be noted that the MFSA’s decision may be appealed before the Financial Services Tribunal within the period as prescribed by the applicable law.
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.