Scicluna warns against harmful rumours

Finance Minister Edward Scicluna warned this evening that rumours and allegations spreading locally and in various EU fora were doing considerable harm to the Maltese financial sector, and were detrimental to the country and its economy as a whole.

Winding up a debate in parliament on the Prevention of Financial Markets Abuse (Amendment) Bill, Prof. Scicluna said he had met MEPs who had been falsely informed that, amongst other things, the government was keeping under wraps a report filed by the FIAU Director-General Manfred Galdes before his resignation, and that Maltese tax authorities were not always co-operating with their German counterparts in the pursuit of tax evasion.

Kristy Debono (PN) had earlier queried reports of an MFSA-Central Bank merger and also criticised the four per cent commission being given to Henley & Partners on the sale of government bonds to investors who apply for Maltese citizenship through the Individual Investor Programme.

She said that since Henley & Partners were not listed with the MFSA, sale of such bonds would amount to sales by an unlicensed stockbroker. Furthermore, a commission of four per cent would be more than 10 times the standard rate...