The European Banking Authority (EBA) considers that the application of the Maltese financial services authority (MFSA) to the European Central Bank (ECB) to withdraw the licence of the Maltese bank Pilatus, which has been caught up in a money laundering scandal (see EUROPE 12053), is an “appropriate step”. This emerges from two letters dated 24 September to the members of the European Parliament and Tiina Astola of the Directorate General for Justice of the European Commission.
The EPA...