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 Financial Institution.
Daily Payment International Limited
115, Old Mill Street,
Business Activity: Financial Institution in terms of the Financial Institutions Act (Chapter 376 of the Laws of Malta).
The Financial Institutions failed to adhere to its obligations in terms of Article 17B of the Financial Institutions Act and Financial Institutions Rule 2 to submit the Audited Financial Statements and the Auditors’ Management Letter within the regulatory deadline.
On 30 June 2021, the Malta Financial Services Authority decided to impose an administrative penalty of two thousand and six hundred Euro (€2,600) on Daily Payment International Limited.
The Malta Financial Services Authority has taken this decision in terms of the powers granted to it under Article 23 of the Financial Institutions Act.
This notice is being published as part of the MFSA’s standard enforcement policy and in terms of Article 16(8) of the MFSA Act and Article 23(4) of the Financial Institutions Act.
UPDATE ON 2 AUGUST 2021
The Authority’s decision was not appealed before the Financial Services Tribunal within the period established by law.