Chairman and Executive Chief Officer of the MGA to Step Down
According to the Malta Sunday Times, Chairman and Executive Chief Officer of the Malta Gaming Authority, Joseph Cuschieri is leaving the authority. Cuschieri is leaving the MGA to serve a new role as Chief Executive Officer of the Malta Financial Services Authority. This is a new role that was created by the Office of the Prime Minister.
Cuschieri will take Joe Bannister’s position. Bannister announced his step down from his leadership position with the MFSA after 20 years. The changeover needs final approval by the MFSA with that decision said to be delivered any time. There have been many changes at the MFSA lately. Amendments have been made to the Malta Financial Services Act with debates taking place in the Parliament. Current legislation doesn’t approve of the position but hopes government officials will allow the position with the new amendments. New provisions, according to the Act, allows for the Prime Minister to appoint new Officers.
A spokesperson for the Parliamentary Secretariat for Financial Services released a statement confirming that the second and third reading are impending. They said, “The authority and the Opposition are being kept abreast about all these discussions and the proposed changes.”