The director general of the Malta Financial Services Authority, André Camilleri, said yesterday he was convinced the collaboration between the regulator and the investigators of the Parmalat scandal was working.
"Of course, time will tell if we are doing our job. However, we have provided the Italians and other investigators with all the information they require," he said.
He explained that much of the information they required regarding the companies involved and their directors was available online. However, for the past month, the authority had also been providing all the information that was within its power to obtain.
The MFSA is unable to comment further on the case while investigations are underway.
The Financial Intelligence Analysis Unit, which is responsible for the prevention of money laundering, is also collaborating with the local and international authorities, within its legal terms of reference.
The unit became involved as soon as the possibility of money laundering was raised for the first time in this case this week. A spokesman for the unit said that so far nothing untoward had been found.
Parmalat was declared insolvent last month after disclosing a hole in its accounts that investigators say could exceed €10 billion.
Investigators probing the scandal believe €250 million, raised in a €500 million bond issue in Brazil in 2001, ended in Malta via a Cayman Islands unit of Spanish bank Santander Central Hispabno, the Italian news agency Ansa has reported.
There are three Parmalat companies registered in Malta. Parmalat Capital Finance Ltd only came to Malta in April 2002, transferred here from the Cayman Islands. Parmalat Malta Holdings Ltd was registered in April 2002, while the third, Parmalat Trading Ltd, was registered in August 2002.
All are official Parmalat companies reporting to the head office in Collechio, director Ian Stafrace said.
The transactions relating to the missing €250 million were carried out in 2001, sources familiar with the investigations said.
Many of the transactions specifically related to Parmalat Capital Finance were also carried out prior to April 2002.