 The MFSA is a member of the European Banking Authority, the European Insurance and Occupational Pensions Authority, the European Securities and Markets Authority, the International Organization of Securities Commissions, and the International Association of Insurance Supervisors.In June 2016, the MFSA drew criticism from the MEP Sven Giegold for poor regulatory supervision of the Maltese financial institutions.In March 2018, the MFSA took control of Pilatus Bank, a Maltese bank headed by Ali Sadr Hasheminejad, whose money laundering scheme of sanctioned Iranian money was exposed by late Daphne Caruana Galizia.