The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of thirty-one thousand, seven hundred and forty euro (€31,740) on the Company.
Ta’ Xbiex, XBX 1403
Business Activity: The Company had 5,500,000 6% Exchangeable Notes listed on the Institutional Financial Securities Market which were due on 31 March 2021.
The Company failed to adhere to its obligations in terms of Rule 4.22 of the Capital Markets Rules for Wholesale Securities Markets, to publish the Annual Financial Returns for years ended 31 December 2017, 2018 and 2019 within the regulatory deadline.
On 29 October 2021, the Malta Financial Services Authority decided to impose an administrative penalty of thirty-one thousand, seven hundred and forty euro (€31,740) on Investar plc.
The Malta Financial Services Authority has taken this decision in terms of the powers granted to it under Article 39A(2) of the Financial Markets 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 41A of the Financial Markets Act.
This news item was originally published by the Malta Financial Services Authority (MFSA MT). For more information, see the Source Link.