James Grech Resigns from MGA Amidst Ongoing Scrutiny
Silent Departure of MGA’s Chief Internal Auditor James Grech, the Chief Internal Auditor of the Malta Gaming Authority (MGA), has stepped down from his role under…
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Edwina Licari
Maltese Investment Firm Michael Grech Financial Ordered to Compensate Clients €43,000
Background on Michael Grech Financial Investment Services Michael Grech Financial Investment Services Limited (www.michaelgrechfinancial.com), a firm regulated by the Malta Financial Services Authority (MFSA), operates out…
NBG Bank Malta Relinquishes Investment Services License Amid Ongoing Exodus
Malta’s Financial Sector Continues to Shrink NBG Bank Malta Withdraws Investment Services License The trend of regulated entities exiting Malta shows no signs of slowing down.…
Legal Proceedings Initiated Between LifeStar Insurance and MFSA
Case Background LifeStar Insurance plc (https://lifestarinsurance.com/), an insurance provider operating in Malta under a license from the Malta Financial Services Authority (MFSA), has filed a court…
MFSA CEO Joseph Gavin Temporarily Unavailable Amid Growing Tensions
Leadership Uncertainty at MFSA The Malta Financial Services Authority (MFSA) has issued a brief and ambiguous statement announcing that its CEO, Joseph Gavin, is currently “indisposed”.…
Maltese Investment Firm Calamatta Cuschieri Ordered to Compensate Client for Negligent Advice
Court Upholds Ruling Against Calamatta Cuschieri Over €100,000 Investor Loss In a recent legal development, the Maltese courts have upheld a decision by the Arbiter for…
MFSA CEO Joseph Gavin to Step Down: Another Chapter in Malta’s Regulatory Turmoil
A Sudden Exit Amid Health Concerns In an unexpected yet unsurprising move, the CEO of the Malta Financial Services Authority (MFSA), Irish lawyer Joseph Gavin, is…
Taxpayer Funds and Conflicts of Interest: Malta Gaming Authority’s Legal Outsourcing Under Scrutiny
MGA’s Reliance on External Legal Counsel Raises Questions The Malta Gaming Authority (MGA) has been relying extensively on outsourced law firms—rather than utilizing its own internal…
Court Reduces FIAU Fine Issued to Satabank
Outcome of Appeal The Court of Appeal (Inferior Jurisdiction) in Malta has lowered an administrative penalty imposed on Satabank plc, a bank formerly under the ownership…
Standard Advisory and U.S. Executives Face SEC Civil Action Over Alleged $75M Client Fund Misuse
Overview of the Case Legal action has been initiated by the U.S. Securities and Exchange Commission (SEC) against Standard Advisory Services Limited, a licensed investment advisory…