AD Deputy Chairperson, Carmel Cacopardo, announced that tomorrow Alternattiva Demokratika will present a formal request to the Auditor General to open an investigation on the MFSA (the Malta Financial Services Authority).

Cacopardo said that it is crystal clear that the crisis which has hit the country is due to the complete collapse of the institutions entrusted to safeguard transparency, governance and ethics in every area of public life.

After the police force has been emasculated by the change of no less than four commissioners in three years, and after their massive delays to investigate the serious allegations coming out in these past few days, a long shadow is now cast on the financial services regulator, the MFSA.

Carmel Cacopardo concluded by saying that Alternattiva Demokratika had to take this step since the regulator of financial services remained silent in spite of the ongoing serious allegations about the operations of financial services institutions in Malta.