MFSA identifies licensed shareholders who are undergoing criminal proceedings

The Malta Financial Services Authority has identified company shareholders licensed by it which are undergoing criminal proceedings.

The information was revealed in a parliamentary question by Nationalist MP Jerome Caruana Cilia to Finance Minister Clyde Caruana.

Caruana Cilia asked whether persons who are either shareholders, directors or executive officials of companies, and who are licensed by the MFSA, are undergoing criminal proceedings in court.

The minister replied by saying that during routine inspections, the authority identified individuals who are currently being charged in court over criminal proceedings.

The number of individuals who have been charged was not divulged by the minister, as the requested information is not open to the public, “including the MFSA.”