The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of five hundred Euro (€500) on the Retirement Scheme Administrator.

BREACHES

The MFSA determined that the Retirement Scheme Administrator has acted in breach of Article 20 of the Retirement Pensions Act and Paragraphs B.4.315 and B.4.317 of the Pension Rules for Service Providers as it failed to submit on time the (Unaudited) Annual Financial Return for financial year ending 31 December 2020

REGULATORY ACTION

On 14 December 2023, the MFSA decided to impose an administrative penalty of five hundred Euro (€500) on the Retirement Scheme Administrator.

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.