The Malta Financial Services Authority (MFSA) has taken note of the judicial letter filed by one of the Governors of the Authority.

MFSA Board of Governors member, former Justice Minister and veteran lawyer Joe Brincat has sent a judicial letter to the authority's CEO over a golden handshake allegedly given to an employee, saying that the payment was a breach of the rule of law that brought shame upon the government's administration of the country.

It was believed that the protest was a reaction to the recent retirement and re-recruitment of George Spiteri, the MFSA's former human resources director, who earlier this month was paid over €150,000 to retire, only to be re-employed in the same position by an offshoot of the financial services regulator. In comments to sections of the press however, Brincat said that the protest did not refer to this case, but another.

In a statement today, the MFSA said: "the Authority does not consider it appropriate to comment publicly on the ongoing matters referred to by the said Governor. However, the Authority wishes to make it clear that funds administered by it, are and will continue to be used exclusively in the exercise of its functions and operations."

"Needless to say, the Board shall remain focused on the implementation of its vision and strategy."