Tag: MFSA
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Shoreline creditors and investors looking for exits but the door is getting narrower
We have obtained an internal letter signed by Koray Global Malta, the Turkish contractor currently involved in arbitration proceedings against Shoreline Mall over an unpaid bill amounting up to €56 million. You can find the letter here. The letter accuses Shoreline shareholders, primarily Kevin Deguara, Jean Carl Sammut and Ryan Otto, of using project revenues…
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Malta Financial Services Authority hails increased activity in 2024 Annual Report
The Malta Financial Services Authority has hailed its increased supervisory activity while noting growth in the financial services sector. The authority stated that in 2024, it processed 287 applications and approved 257 for new financial entities within the Maltese sector. This brings the total number of supervised financial entities to 2,380—a significant increase from 2,073…
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Local regulators highly unlikely to approve private investors’ bid for HSBC Malta
Financial experts in regulatory roles in the local industry have spoken to this website on condition of anonymity and said that the local regulators (MFSA) are highly unlikely to accept any bid for HSBC Malta by private investors. Times of Malta broke the news earlier today that a group of private investors have submitted a…
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Why the regulators won’t accept OTP Bank’s bid for HSBC Malta
I’m very glad that the Hungarian laundromat of Russia, OTP Bank submitted a bid for HSCB Malta. We had confirmed that a foreign entity submitted a bid for HSBC Malta but we couldn’t yet confirm a name. Times of Malta confirmed it before us. OTP is not going to get accepted by the Maltese regulator,…
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MFSA strengthens sustainable finance supervision through EU-funded project
The Malta Financial Services Authority (MFSA) has successfully concluded its participation in an EU-backed initiative aimed at enhancing supervisory capacity in sustainable finance. The project, funded by the European Union’s Technical Support Instrument (TSI), culminated in a closing event held in Zagreb, Croatia, in September, hosted by the Croatian Financial Services Supervisory Authority (HANFA). This…
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The Malta Financial Services Authority has just collected a tonne of evidence on Destination Europe
Today, officials at the Malta Financial Services Authority were busy all day collecting information about Destination Europe from the relevant authorities and the officials of the company. Gao Mao was also called in by phone and questioned and the MFSA will be doing more inquiries of its own. It seems like there are still regulators…
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Interesting fact about Malta’s Chairman of the FIAU and CEO of the MFSA
Malta’s top bureuacratic financial regulator, having two posts, one as Chairman of the FIAU and the other as CEO of the MFSA is actually the Secretary of the Lourdes Band Club of Qrendi (Societa Filarmonica Lourdes) and coincidentally, Mannie Galea, is also the President of the same band club. Mannie Galea is the architect of…
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MaltaToday is literally taking adverts from crypto scammers, scamming their readers in the process
LabourToday (MaltaToday), seems to be so short on cash that it has turned to crypto scammers to rake in that odd and exceptional advert from the private sector. I suggest anyone who has given or deposited any money to this website’s accounts, to file a police report because you have just been scammed, courtesy of…
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My scam/fraud/money-laundering detector goes really hard for this stuff
I love encountering this tacky and very straightforward type of illegal financial scam since it always provides a good joke, but this kind of thing can also be harmful to unsuspecting and good people. Jessica Do Nascimento promises you to double your money if you give it to the company she works for called “Limitless…
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After turning the MGA into a brothel Edwina Licari’s incompetence may cost the state millions of Euros
Edwina Licari became popular after it was discovered that she eloped with Yorgen Fenech and her boss, Joseph Cuschieri on a trip to Las Vegas. Her extravagant and extremely irregular affair happened because she was general counsel for the Malta Gaming Authority whom Yorgen Fenech needed for fast-track approvals. She was also a board member…
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The Malta Financial Services Authority is encouranging people to buy cryptocurrencies
The Malta Financial Services Authority is supposed to safeguard retail investors from losing their money in markets to fraud and risky investments that are hard to understand. Instead, the MFSA is promoting and encouraging people through the press to literally buy cryptocurrencies. There seems to be confusion at the MFSA about its actual role. The…
