Malta MFSA fines retail forex broker BTFX €15,000


The Malta Financial Services Authority (MFSA) announced that has decided to impose an administrative penalty of €15,000 on BTFX Brokersclub Limited in terms of the powers granted to the Authority under Article 16A of the Investment Services Act.

Brokersclub Limited was found in breach of:

  • SLC 7.45 of Part BI of the Investment Services Rules for Investment Services Providers, as the Company failed to submit the automated Annual Audited COREP Return for the year ending 31 December 2015, to the MFSA.
  • SLC 7.46 of Part BI of the Investment Services Rules for Investment Services Providers, as the Company failed to submit the Audited annual financial statements, together with a copy of the auditors’ management letter and the auditors’ report for the year ending 31 December 2015 to the MFSA.
  • SLC 7.48 of Part BI of the Investment Services Rules for Investment Services Providers, as the Company failed to submit the Interim COREP Returns within the applicable deadlines.

The official announcement can be seen here.

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Malta MFSA fines retail forex broker BTFX €15,000

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