The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing directives against the Company in terms of Article 15 of the Investment Services Act and Article 16(2)(b) of the Malta Financial Services Authority’s Act.

Address:

Floor 5, The Penthouse, Lifestar,
Testaferrata Street,
Ta’ Xbiex, XBX 1403,
Malta

Business Activity: Investment Firm

REGULATORY ACTION

Effective 1 September 2026, the MFSA decided to impose the following directives on the Company, directing it to:

1. cease, with immediate effect, the onboarding of new clients until such time as the Authority is satisfied that the deficiencies identified in relation to the safeguarding of client assets and reconciliation procedures have been adequality addressed;
2. direct the Board of the Company to, amongst others, approve and sign off transactions, with immediate effect, involving client designated accounts or pertaining to clients’ monies and assets, ensuring robust oversight and adequate supervisory controls;
3. provide the Authority with all documentation confirming that client monies held by liquidity providers are maintained in the relevant accounts, by not later than forty-eight (48) hours from the receipt of the MFSA’s directive; and
4. transfer client monies with counterparties that meet the requirements of Regulation 9(1) of the Investment Services Act (Control of Assets) Regulations (S.L. 370.05) as a matter of priority within one (1) week from the date of the MFSA’s directive.

Furthermore, on 24 September 2026, the MFSA decided to direct the Company to cease any incoming or outgoing transactions from the accounts of the clients with immediate effect. This directive shall remain in place until the Company transfers client monies with counterparties that meet the requirements of Regulation 9(1) of the Investment Services Act (Control of Assets) Regulations (S.L. 370.05) or until the MFSA decides otherwise.

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.

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.

CLIENT QUERIES

Clients of the Company are encouraged to refer to the MFSA website for information and updates.
Dedicated Contact Line: +356 2548 5500