PILATUS BANK PLC

Credit Institutions


Further Details

Credit Institutions Activities:
  • 05a - Trading for own account or for account of customers in money market instruments
  • 05a(Own account) - Trading for own account in money market instruments
  • 05b - Trading for own account or for account of customers in foreign exchange
  • 05b(Own account) - Trading for own account in foreign exchange
  • 05c - Trading for own account or for account of customers in financial futures and options
  • 05c(Own account) - Trading for own account in financial futures and options
  • 05d - Trading for own account or for account of customers in exchange and interest-rate instruments
  • 05d(Own account) - Trading for own account in exchange and interest-rate instruments
  • 05e - Trading for own account or for account of customers in transferable securities
  • 05e(Own account) - Trading for own account in transferable securities
Legal Entity Identifier (LEI): 549300JRZ6UXSE4Z5J19
Member of the Depositor Compensation Scheme:
Further Information: www.compensationschemes.org.mt
Yes
Issue Date: 03/01/2014


Penalties/Sanctions


# Penalty Date Infringement Type Amount (€)
1 05/11/2018 Public Notice regarding Pilatus Bank Further to the Authority’s proposal to the European Central Bank (ECB) to withdraw the authorisation of Pilatus Bank as a credit institution, the ECB’s Governing Council has decided to withdraw the authorisation of Pilatus Bank with effect from today. The Competent Person remains in control of Pilatus Bank in terms of the Banking Act as communicated in Public Statement 03/2018 dated 2 April 2018. All of the regulatory measures taken in relation to the bank remain in full force and applicable until further notice by the Authority. Further information may be obtained by accessing the Authority’s webpage www.mfsa.com.mt. Any communication in relation to Pilatus Bank should be addressed to the bank on 356 2779 9999 or the Authority on contact number Freephone 80074924. .00
2 21/03/2018 Notice to the Public concerning Mr Ali Sadr Hasheminejad and Pilatus Bank Limited Pilatus Bank Limited, (“the Bank”) having registration number C-62995 and operating from Whitehall Mansions, Level 2, Ta’Xbiex Wharf, Ta’Xbiex XBX 1026, Malta and which holds a credit institution licence in terms of the Banking Act (Chapter 371 of the Laws of Malta), and an Investment Services licence in terms of the Investment Services Act (Chapter 370 of the Laws of Malta). The Authority has determined to take the following actions concerning Mr Ali Sadr Hasheminejad: 1. In terms of Article 14(10) of the Banking Act the Authority has issued an order to remove Mr Ali Sadr Hasheminejad, with immediate effect, from the position of director of the Bank and any executive roles that he holds within the Bank. 2. In terms of Article 4B(1) of the Banking Act, the Authority has directed that with immediate effect Mr Ali Sadr Hasheminejad: a. Suspends the exercise of his voting rights as shareholder of the Bank; and b. Refrains from exercising the legal and judicial representation of the Bank. The above measures have also been taken in terms of Article 15(1) and (2)(c) of the Investment Services Act (Cap 370). In addition, in terms of Article 4B of the Banking Act and until notified further, the MFSA has directed Pilatus Bank Limited not to allow any banking transactions, including withdrawals or deposits held with the Bank by the shareholder, members of the Board of Directors and Senior Management officials of the Bank, or any connected persons or related persons thereto, whether direct or indirect. The Bank has been further directed to obtain the MFSA’s prior approval before effecting any movement of the Bank’s assets. The Authority is also considering other supervisory measures that may be applicable in the circumstances. Notice to the Public concerning Mr Ali Sadr Hasheminejad and Pilatus Bank Limited ------------------------ Update: Reference is made to the above Notice issued earlier today. The Statement made reference to the issuance of a Directive in terms of Article 4B of the Banking Act (Cap 371) of the Laws of Malta, directing Pilatus Bank Limited (“the Bank”) not to allow any banking transactions, including withdrawals or deposits held with the Bank by the shareholder, members of the Board of Directors and Senior Management officials of the Bank, or any connected persons or related persons thereto, whether direct or indirect. The Bank has been further directed to obtain the MFSA’s prior approval before effecting any movement of the Bank’s assets. The MFSA clarifies that the content of the afore-said Directive as regards the relative scope stipulates that the Bank has been directed not to transact any business whatsoever irrespective of the client or the counterparty. The MFSA further clarifies that the afore-said Directive applies to all deposits and withdrawals and any disposal of the Bank’s assets. --- Update 22/03/2018 Public Notice concerning Pilatus Bank Limited This notice is being issued in respect of Pilatus Bank Limited (“the Bank”) having registration number C-62995 and operating from Whitehall Mansions, Level 2, Ta’ Xbiex Wharf, Ta’ Xbiex XBX 1026, Malta and which holds a licence to operate as a credit institution in terms of the Banking Act (Cap. 371 of the Laws of Malta) and an Investment Services Licence in terms of the Investment Services Act (Cap. 370 of the Laws of Malta). The MFSA has today appointed Mr Lawrence Connell (bio attached) as a ‘Competent Person’ in terms of Article 29(1)(c)and(d) of the Banking Act and Article 15A(1)(b)and(c) of the Investment Services Act to: (i) take charge of all the assets of Pilatus Bank Limited. In this case, reference to assets also includes any assets related to the investment services business of the Bank; (ii) assume control of the Bank’s banking and investment services business and to continue carrying on that business until such time as the MFSA may direct. The MFSA has also issued an additional Directive in terms of Article 15 (1) and (2) of the Investment Services Act and Article 16(2b) of the Malta Financial Services Authority Act (Cap. 330) directing the Bank not to dispose, liquidate, transfer or otherwise deal with clients’ assets and monies. These measures shall remain in place until such time as the MFSA may direct otherwise. .00



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