Tag: George Vella

MFSA Forced To Take Regulatory Action Against Brian Tonna and Karl Cini

FinTelegram Ben - January 24, 2023

In a case of too little, too late, MFSA was forced to take action against Maltese nationals Brian Tonna (link) and Karl Cini (link). The two directors of Nexia BT, the company involved in major scandals in Malta, were arraigned in courts for money laundering charges, tax evasion, and falsification of documents two years ago. Their accountancy warrants were suspended on 25 September 2020. The MFSA did not elaborate on why it waited so long to act after the duo’s arraignment.

Regulatory Issues – Malta’s Financial Services Authority making the headlines for the wrong reasons

Compliance Mark Lagarde - January 27, 2021

Joseph “Joe” Cuschieri, the former CEO of Malta's Financial Services Authority (MFSA), keeps hitting the headlines, despite his resignation. The chairman of MFSA, John Mamo, has confirmed in Malta’s Parliament that Cuschieri was being paid honoraria reserved for board members attending meetings; on top of his financial package as CEO. Mamo also revealed that Joseph Cuschieri was asked to return these extra payments.

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