A Swiss-owned fund based in Malta has had its licence and that of its renewable energy sub-fund revoked by the financial regulator.

Last week, the Malta Financial Services Authority (MFSA) announced it had revoked the licences of TTC SICAV plc and TTC Green Energy Fund over a raft of regulatory breaches.

TTC SICAV plc had failed to appoint a money laundering reporting officer, a compliance officer and an MFSA-approved auditor, and had neglected to replace its administration, the regulator said in a notice posted to its website.

The fund had also failed to submit its regulatory reporting and provide required information, the MFSA said.

As well as revoking its licence, the regulator also ordered TTC SICAV plc to change its name and “remove any reference to licensable activities” from information about the fund.

The fund and its sub fund are owned by a Swiss investor and were granted a licence back in 2013, according to public records.

The MFSA noted that the window for appeal was still open.