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Regulatory Action against Nexia BT (“the Company”) – MFSA

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The Malta Financial Services Authority (“MFSA”) decided to suspend the authorisation of Nexia BT to act as an approved auditor in terms of the Insurance Business (Approved Auditor) Regulations (Legal Notice 105 of 2000, as amended) (‘the Regulations’).

Address:

Nexia BT
The Penthouse
Suite 2, Capital Business Centre
Entrance C, Triq Ta’ Zwejt
San Gwann
SGN 3000
Malta

Business Activity: Approved Auditors – Authorised to audit accounts of insurance intermediaries.

REGULATORY ACTION

By virtue of the powers given to the MFSA under Article 6(1)(d) of the Regulations, the Authority has decided, on 13 October 2020 to suspend the authorisation of Nexia BT to act as approved auditors authorised to audit accounts of insurance intermediaries in view of the temporary suspension of the registration of Nexia BT by the Accountancy Board.

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 as part of the MFSA’s standard enforcement policy and in terms of Article 16(8) of the Malta Financial Services Authority Act.

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Regulator Information

Abbreviation: MFSA
Jurisdiction: Malta

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