The Malta Financial Services Authority (MFSA) has cancelled the Professional Investor Fund licence of Kylin Prime SICAV plc and its Malta Government Securities Sub-Fund, effective October 20, 2026, citing multiple regulatory breaches spanning compliance, governance, and financial reporting obligations.
- Location: Balluta Mansions, 119 Old College Street, Sliema, Malta
- Licence Type: Professional Investor Fund
- Decision Date: October 20, 2026
- Legal Basis: Article 7(3)(b) of the Investment Services Act
The MFSA identified thirteen distinct regulatory violations against the Scheme, according to its enforcement notice. The breaches included failure to maintain a Compliance Officer and Money Laundering Reporting Officer, failure to submit regulatory reporting and supervisory fees within required timeframes, and inability to provide material information to the Authority concerning the Scheme’s management and operations. The fund also failed to ensure operational, administrative, and financial procedures necessary for compliance and lacked a Malta-resident Director and in-House Investment Committee.
Additional violations encompassed inadequate monitoring of Portfolio Manager and Investment Committee activities, insufficient management resources to conduct business operations, and failure to disclose material changes impacting market integrity. The Scheme also breached capital market rules by failing to publish its Annual Report and Audited Accounts within the required timeline.
The MFSA has issued directives requiring Kylin Prime SICAV plc to undertake structural changes, including removing its collective investment scheme designation, changing its legal name as mandated under Malta’s Companies Act, and eliminating all references to licensable activities from its constitutional documents. The decision may be appealed before the Financial Services Tribunal within the prescribed legal timeframe. The notice has been published in accordance with Article 16(8) of the Malta Financial Services Authority Act.
