The Minister for Finance, Prof. Edward Scicluna, received a courtesy call from the Chairman of the European Securities and Markets Authority (ESMA) Mr Steven Maijoor, in the last week of June 2014.

Mr Maijoor was accompanied by the outgoing DG of the Malta Financial Services Authority (MFSA) André Camilleri, incoming MFSA DG Ms Marianne Scicluna, and ESMA senior advisor in the Legal, Cooperation and Convergence Unit Max Simonis.

Prof. Scicluna and Mr Maijoor had occasion to discuss the founding of ESMA, where Prof. Scicluna was involved in his capacity as Vice-Chairman of the Committee on Economic and Monetary Affairs when he sat in the European Parliament as a Maltese MEP.

Prof. Scicluna noted that the founding of ESMA, an independent EU Authority responsible for enhancing the protection of investors and reinforce stable and well functioning financial markets in the European Union, was all the more apt given the current European financial and economic climate.

During the meeting, Prof. Scicluna and Mr Maijoor also discussed the current European and Global economic climate, and also the manner in which Malta could further develop its financial services sector while also exploring broader economic diversification into other sectors.

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-Tuesday, 24th June, 2014