This enforcement action targets a UCITs/AIFs manager for investment fund management breaches (NAV calculation, reporting, cooperation), which falls outside the payments scope despite the enforcement format.
No secondary tag from the payments taxonomy appropriately matches this investment fund management enforcement action, which lacks any payment services nexus.
Specialism
The MFSA imposed a confirmed administrative penalty of €192,000 on a named financial services firm for identified regulatory breaches, meeting the threshold for enforcement action.
Low confidence — requires human review. While the breaches involve reporting and cooperation obligations, they relate to fund management and NAV reporting rather than core payment services compliance areas.
2026-05-18 15:19:43·tojuri@vixio.com
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TITLE: Malta Financial Services Authority Imposes Administrative Penalty on Fair-Finance Asset Management Limited
BODY:
On May 6, 2026, the Malta Financial Services Authority (MFSA) imposed an administrative penalty of €192,000 on Fair-Finance Asset Management Limited, a UCITs (Undertakings for Collective Investment in Transferable Securities) Manager and Alternative Investment Funds (AIFs) Manager based in Birkirkara, Malta.
The MFSA determined that Fair-Finance Asset Management Limited breached multiple regulatory requirements. The company failed to inform the MFSA of material information immediately upon becoming aware of matters, in violation of SLC 1.10(k) of Part BII and SLC 1.17(m) of Part BIII of the Investment Services Rules. Additionally, the company failed to cooperate in an open and honest manner with the Authority, breaching SLC 1.14 of Part BIII and SLC 1.07 of Part BII of the Investment Services Rules. The MFSA also found that Fair-Finance Asset Management Limited improperly calculated and reported the Net Asset Value (NAV) of funds under its management, violating Article 20(3) in connection with Article 19(10) of the Alternative Investment Fund Managers Directive (2011/61/EU) and SLC 2.32 of Part BIII of the Investment Services Rules. Furthermore, the company failed to submit the Fund's Annual Report by its regulatory deadline, breaching Article 12(1) of the European Venture Capital Funds Regulation (EuVECA Regulation) and SLC 7.03 of Part BIII of the Investment Services Rules.
Fair-Finance Asset Management Limited may appeal the MFSA's decision before the Financial Services Tribunal within the period prescribed by applicable law. The MFSA published this notice in accordance with Article 16(8) of the Malta Financial Services Authority Act and the MFSA's Publication Policy.