Sanction 5964

On 11 May 2018, the Malta Financial Services Authority (“MFSA” or “the Authority”) has suspended the licence of Ariadne Capital Malta Limited (“ACML”) with immediate effect in lieu of the various breaches to the Standar Licence Conditions as set out hereunder: (i) failed to cooperate with the MFSA in an open manner (ii) various governance issues (iii) failure to notify the authority about changes in its control function (iv) did not have adequate and appropriate human resource and technical knowledge at a level required to ensure that its business delivers a competent professional service. (v) not acting in line with the Terms of Reference of the Investment Committee consequently unable to function properly due to the inability to attain a quorum.