MEP David Casa has called on the Accountancy Board to convene a disciplinary committee to investigate alleged wrongdoing by Nexia BT's Brian Tonna and Karl Cini.

He said the investigation should focus on their activities as revealed in the Panama Papers and following revelations about Pilatus Bank. 

Read: Pilatus Bank used by Azeri elites to move millions into Europe

"In the unfortunate case of Pilatus Bank we are witnessing the damage that is caused as a result of the dereliction of duty of the regulatory bodies that should have acted against the bank. The continued operation of Nexia BT and in particular the fact that Karl Cini and Brian Tonna continue to possess their warrants, despite the overwhelming evidence against them, is reason for great concern and a threat to the integrity of the accountancy profession as a whole,” Mr Casa said. 

Read: Egrant: Mossack Fonseca refused Nexia BT request for denial

He, therefore, called on the Accountancy Board to protect the integrity of the accountancy profession and to commence the process leading to the withdrawal of the warrants held by Mr Cini and Mr Tonna.

Mr Casa said he was prepared to present all documents and evidence in his possession to the disciplinary committee.