Updated: MFSA Director submits legal letter against Chief Executive

MFSA

Tista' taqra bil- Malti.

Member of the Malta Financial Services Authority (MFSA) Board Joe Brincat has submitted a legal letter against the Chief Executive of the same Authority, Joe Cuschieri.

In the letter, Brincat insists that Cuschieri should not agree to hand out “golden handshakes” to MFSA employees using public money.

Recently, media reports revealed that an official had received a “golden handshake” together with an early retirement scheme, in an attempt to reach an agreement which would terminate his employment.

Read: Repubblika asks NAO to investigate reemployment of MFSA official

However, it had come to light that the payment was not covered by any vote in Parliament. In the judicial protest, Brincat said that this case was not related to the early retirement scheme.

Brincat explained that as a member of the MFSA board, it is in his responsibility to prevent any action that would amount to a criminal offence; and that not doing so would render him “criminally responsible.”

Brincat also informed the Auditor and Attorney General of his course of action.

Opposition condemns careless acts

The Opposition has condemned the way that the careless way the MFSA is using public funds. It added that these acts go against the principles of good governance.

Therefore, the Opposition is requesting that these cases are discussed and urgently investigated by the Public Accounts Committee (PAC).