The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand Euro (€ 1,000) on an Insurance Undertaking.

BREACHES

The MFSA determined that the Insurance Undertaking has acted in breach of Article 7(8) of the Insurance Business Act, in that the Insurance Undertaking failed to submit regulatory information within the stipulated deadline.

REGULATORY ACTION

On 20 June 2023, the MFSA decided to impose an administrative penalty of one thousand Euro (€ 1,000) on the Insurance Undertaking.

PUBLICATION

This notice is being published in terms of Article 16(8) of the Malta Financial Services Authority Act and the MFSA’s Publication Policy.