The Malta Financial Services Authority (“MFSA” or the “Authority”) has been looking into certain matters related to the Trustee in relation to failings to adhere to Regulation 5(2) of the Trusts and Trustees Act (Register of Beneficial Owners) Regulations. The Authority has considered the goodwill demonstrated by the Trustee and agreed to settle all pending matters.

Business Activity: Authorised to act as a Trustee or Co-Trustee

FINDINGS:

The MFSA’s investigation found failings in respect of the Trustee’s failure to adhere to its obligations in terms of Regulation 5(2) of the Trusts and Trustees Act (Register of Beneficial Owners) Regulations to submit the Annual Declaration by not later than 31 January 2025.

MEASURES

On 25 September 2025, the MFSA agreed to settle pending matters with the Trustee after demonstration of goodwill by the Trustee. By means of a settlement agreement entered into between the Trustee and the MFSA, the latter imposed an administrative penalty of three thousand and six hundred Euro (€3,600).

PUBLICATION

This notice is being published in terms of the Authority’s Settlement Policy.