For the second time in less than three months, Malta financial regulator Malta Financial Services Authority (MFSA) has named Dr Michelle Mizzi Buontempo as its Acting CEO. The appointment will take effect on September 9. Dr Buontempo is currently Chief Officer Enforcement at the MFSA.

The board of the regulator gave no indication if her appointment is likely to be permanent, or temporary until a replacement for Joe Gavin is found. Similarly, no mention was made of a potential formal search process for a new CEO.

As noted above, the MFSA named Dr Buontempo as its Acting CEO in mid June, when CEO Joe Gavin was said to have become “indisposed”, presumably for unspecified health reasons. While Mr Gavin returned to active duty in late July, just a week later the MFSA announced that he was stepping down, without giving a specific date.

Joe Gavin was named MFSA CEO just a year ago in September 2021, following a scandal at the MFSA that led to the ouster of the regulator’s previous CEO, Joseph Cuschieri. Mr Cuschieri resigned in November 2020 after reports surfaced in the country that he and MFSA general counsel Edwina Licari had gone on an all-expenses-paid trip to Las Vegas with Maltese businessman and casino owner Yorgen Fenech in May 2018. Mr. Gavin was General Counsel at the Central Bank of Ireland between 2009 and 2015.