55 administrative penalties issued by the MFSA for 2021

Last Updated on Wednesday, 5 October, 2022 at 12:15 pm by Andre Camilleri

A total of 55 administrative penalties were imposed by the Malta Financial Services Authority during 2021, Minister for Finance Clyde Caruana said.

In answering a parliamentary question by PN MP Jerome Caruana Cilia, the minister indicated that these were the result of several irregularities that were found during “onsite inspections”, as well as through other “offsite supervisory work” carried out by the MFSA

He added that, additionally, the authority also imposes certain actions in cases where an activity is carried out without the necessary license/authorization. 

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