Aggregated News From Investment Management Regulators

Regulatory Action against Mistral Pay Ltd – MFSA


Please complete the required fields.

The Malta Financial Services Authority (“MFSA”) decided to impose an administrative penalty of thirty-two thousand four hundred euros (€32,400) on Mistral Pay Limited and has allowed the Institution to start the process for the voluntary surrender of their licence under the Financial Institutions Act (Cap 376 of the Laws of Malta).


Mistral Pay Ltd

Central Business Centre,

Level 2, Suite 1,

Mdina Road,

Zebbug, ZBG 9015



The MFSA determined that the Institution has acted in breach of Article 5(1)(c) and Article 11A of the Financial Institutions Act (‘FIA’ and/or ‘Act’).


On the 21 October 2020, the MFSA decided to impose an administrative penalty of thirty-two thousand four hundred euros (€32,400) in terms of Subsidiary Legislation 376.02 Fines and Administrative Penalties for Offences Regulations issued under the FIA for breaches of Article 5(1)(c) and Article 11A of the FIA.

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.


In the meantime, Mistral has submitted a request to surrender its licence under the Act and the MFSA has allowed the Institution to initiate the process for the voluntary surrender of the licence subject to all the requirements at law applicable to the voluntary surrender of a licence under the FIA, including any additional conditions which the Authority may deem appropriate to impose.


This notice is being published as part of the Authority’s standard enforcement policy and in terms of Article 16(8) of the Malta Financial Services Authority Act.

Source link

Regulator Information

Abbreviation: MFSA
Jurisdiction: Malta

Recent Articles

Fraudsters Posing as Brokers or Investment Advisers – Investor Alert

The FBI Criminal Investigative Division and the United States Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) warn of fraudsters swindling investors while preten

Announcement: FMA imposes a sanction against S Immo AG for delayed publication of a proprietary transaction

The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 16,000.00 by means of a penal order under...

Origin Capital Group (clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Financial Stability Report (2020 annual report)​

Compliance Details javascript:commonShowModalDialog(‘{SiteUrl}/_layouts/itemexpiration.

Get the latest from Regulatory.News in your inbox!