The Malta Financial Services Authority (“MFSA” or the “Authority”) has been looking into certain matters related to the Company in relation to failings which resulted from the Authority’s supervisory engagement with the Company. The Authority has considered the goodwill demonstrated by the Company and agreed to settle all pending matters.

Address:

Douglas Technical Limited
Finch House,
24 Finch Road,
Douglas, IM1 2PS
Isle of Man

Business Activity: NA

FINDINGS:

The MFSA’s investigation found failings in respect of:

• Article 13 (1)(a) and (c) & Article 13(3)(a) of the Banking due to the Company’s failure to notify the MFSA in writing in advance of the acquisition, increase and disposal of an indirect qualifying shareholding in a Credit Institution authorised by the MFSA;
• Article 38(1)(a) and (c), and Article 38(2)(a) of the Insurance Business Act due to the Company’s failure to notify the MFSA in writing in advance of the acquisition, increase and disposal of an indirect qualifying shareholding in an Insurance Undertaking authorised by the MFSA;
• Article 44A(1)(a), (c) and(f) of the Insurance Distribution Act due to the Company’s failure to notify the MFSA in writing in advance of the acquisition, increase and disposal of an indirect qualifying shareholding in an Insurance Broker authorised by the MFSA.

MEASURES

On 23 September 2026, the MFSA agreed to settle pending matters with the Company after demonstration of goodwill by the Company. By means of a settlement agreement entered into between the Company and the MFSA, the latter imposed an administrative penalty of ninety thousand Euro (€90,000) on Douglas Technical Limited.

PUBLICATION

This notice is being published in terms of the Authority's Settlement Policy.