The Malta Financial Services Authority (“MFSA”) decided to issue a Directive to The Timeless Precious Metals Fund SICAV plc, a SICAV licensed as a collective investment scheme targeting retail investors (Non-UCITS).
The Timeless Precious Metals Fund SICAV plc
6, Third Floor Suite 1
Floriana FRN 1082
Business Activity: A collective investment scheme licensed as a Retail Non-UCITS fund.
On 11 November 2021, the Malta Financial Services Authority issued a Directive to the SICAV whereby it was directed to take all the necessary steps to ensure that a new liquidator is appointed within one month from the date of the Directive for the conclusion of the liquidation of the Scheme (currently in dissolution) in accordance with the provisions of the Companies Act (Cap. 386 of the Laws of Malta), in the interest of the investors of the SICAV.
The Malta Financial Services Authority has taken this decision in terms of the powers granted to it under Article 15 of the Investment Services 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 and Article 25(1) of the Investment Services Act.