The Malta Financial Services Authority (MFSA) has determined that Mr Kasim Garipoglu can no longer be deemed fit and proper to hold approved positions, effective 2 October 2026. The regulatory action bars Garipoglu from financial services leadership and requires divestment of his shareholding in Trive within six months.
- Decision Date: 2 October 2026
- Divestment Period: Six months from decision date
- Ban Duration: 10 years from new approved positions
- Regulatory Authority: Article 15 of the Investment Services Act (Chapter 370 of the Laws of Malta)
Under Article 15 of the Investment Services Act, the MFSA has directed Garipoglu to divest all qualifying shareholdings he holds directly or indirectly in Trive at the earliest opportunity within the six-month timeframe. The authority has also prohibited him from accepting any new positions requiring its approval in entities or activities licensed or supervised by the MFSA for a period of 10 years.
The decision follows the MFSA‘s assessment that Garipoglu no longer meets the fitness and propriety standards required for senior roles in the financial services sector. The regulator publishes such notices under Article 16(8) of the Malta Financial Services Authority Act and its Publication Policy to maintain market transparency and investor protection.
Garipoglu retains the right to appeal the MFSA‘s decision to the Financial Services Tribunal within the prescribed statutory period. The Malta Financial Services Authority regulates investment services, banking, insurance, and other financial activities in Malta.
