MFSA

Malta Financial Services Authority

The Malta Financial Services Authority (MFSA) is one of the weaker financial supervision authorities in the EU. MFSA has been under the scrutiny of Moneyval, with Malta likely to be greylisted in the coming months. The country and its authorities have an unfortunate history of corruption.

In 2018, the then CEO Joseph “Joe” Cuschieri hat to resign after just one month on allegations of conflict of interest, among others. His alleged misconduct included 38 paid business trips with his MGA/MFSA colleague Edwina Licari and a free business trip to Las Vegas paid by an alleged murder mastermind (Reuters). Moreover, he received extra money, that is, multiple payments for activities that Cuschieri performed for the MFSA.

Josef Gavin followed Cuschieri as the regulator’s CEO. Christopher Buttigieg is Chief Officer Supervision. Edwina Licari is the General Counsel and Michelle Mizzi Buontempo is the Chief Officer Enforcement.

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Jurisdiction

Malta

Legal Entities

Regulator

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