Administrative Measures and Penalties


In terms of article 4(1)(c) of the Malta Financial Services Authority Act, one of the MFSA’s functions is to keep the general public informed of important developments in the sector that it regulates, and to provide the public with relevant information and guidance. Article 16(8) of the Malta Financial Services Authority Act also provides that:

Any administrative or disciplinary sanction or measure, of whatever type, including reprimands or warnings, imposed or decided by the Authority under any law for whose administration it is responsible, shall be published in such medium and in such manner and for such duration as may be deemed warranted by the circumstances and the nature and seriousness of the breach or wrongdoing.

Kindly refer to the Publication of Administrative Measures & Penalties Policy which can be accessed here.

 

  Administrative Measures & Penalties issued prior to 2020

FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand and three hundred Euro (€1,300) on the Insurance Undertaking. Business Activity: Insurance Undertaking in terms of the Insurance Business Act (Chapter 403 of the Laws o ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand and two hundred Euro (€1,200) on the Insurance Undertakings Passporting outside Malta. Business Activity: Insurance Undertakings Passporting outside Malta under Freedom ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of four thousand Euro (€4,000) on the Insurance Undertaking. Business Activity: Insurance Undertaking in terms of the Insurance Business Act (Chapter 403 of the Laws of Malta). BREA ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of three thousand Euro (€3,000) on the Insurance Undertaking. Business Activity: Insurance Undertaking in terms of the Insurance Business Act (Chapter 403 of the Laws of Malta). BRE ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand Euro (€1,000) on the Protected Cell Companies writing Insurance Business. Business Activity: Protected Cell Company writing Insurance Business in terms of the Insurance ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of two thousand and two hundred Euro (€2,200) on the Protected Cell Companies writing Insurance Business. Business Activity: Protected Cell Company writing Insurance Business in terms ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of two thousand and six hundred Euro (€2,600) on the Insurance Undertaking. Business Activity: Insurance Undertaking in terms of the Insurance Business Act (Chapter 403 of the Laws of ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand Euro (€1,000) on the European Insurance Undertaking. Business Activity: European Insurance Undertakings carrying on business in Malta under the provisions of Freedom of ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand Euro (€1,000) on the Insurance Undertaking. Business Activity: Insurance Undertaking in terms of the Insurance Business Act (Chapter 403 of the Laws of Malta). BREAC ...
FEBRUARY 21, 2023
The Malta Financial Services Authority (“MFSA”) decided to proceed with imposing an administrative penalty of one thousand Euro (€1,000) on the Protected Cell Companies writing Insurance Business. Business Activity: Protected Cell Company writing insurance business in terms of the Insurance ...