The Malta Financial Services Authority (“MFSA”) decided that Mr Kai Dai can no longer be deemed as being fit and proper to hold any approved positions by the MFSA.

REGULATORY ACTION

On 20 October 2026, the MFSA has decided that Mr Kai Dai can no longer be deemed as being fit and proper to hold approved positions by the MFSA. Therefore, in terms of Article 15(1) of the Investment Services Act (Chapter 370 of the Laws of Malta), the MFSA has directed Mr Dai to:

1. Divest himself of all involvements approved by the Authority, both direct and indirect, within the Scheme; and
2. Prohibiting him from accepting any new positions, which necessitate the approval of the Authority including qualifying shareholding positions in entities or in relation to activities licensed and/or otherwise supervised by the MFSA, for a period of ten (10) years from the date of this decision.

It should be noted that the MFSA’s decision may be appealed before the Financial Services Tribunal within the period as prescribed by the applicable law.

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.