The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of five thousand Euro (€5,000) on the Company.

Address:

HHF 303, Industrial Estate,
Hal Far,
Birzebbugia, BBG 3000
Malta

Business Activity:  Bonds issued by the Company and admitted to trading on Prospects MTF.

BREACHES

The MFSA determined that the Company failed to adhere to its obligations in terms of Article 18(1)(c) of the Market Abuse Regulation for failure to submit the updated List of Insiders to the MFSA within the established timeframes.

REGULATORY ACTION

On 11 September 2020, the Malta Financial Services Authority decided to impose an administrative penalty of five thousand Euro (€5,000) on JD Capital plc.

The Authority has taken this decision in terms of the powers under Article 22(1) of the Prevention of Financial Market Abuse Act.

PUBLICATION

This notice is being published as part of the Authority’s standard enforcement policy and in terms of Article 22(3) of the Prevention of Financial Market Abuse Act and Article 16(8) of the Malta Financial Services Authority Act.

UPDATE ON 16 OCTOBER 2020

The Authority’s decision was appealed before the Financial Services Tribunal within the period established by law.

UPDATE ON 30 JUNE 2021

On 30 June 2021, the Financial Services Tribunal has denied all the requests made by JD Capital plc and thus decided in the MFSA’s favour.

In view of such, the administrative penalty of five thousand Euro (€5,000) imposed by the Authority on JD Capital plc has been confirmed.