MFSA verification
The Malta Financial Services Authority refers to Carmel Tonna's letter under the heading Strange Banking Behaviour By BOV (September 24).
Through the good offices of The Times, Mr Tonna has been asked to provide to the MFSA whatever information is in his possession which leads him to state that "someone seems to be hell bent on depressing the price of BOV shares in order to facilitate some near future manoeuvring with the bank's shares".
His input will be invaluable in verifying whether anyone has violated the Prevention of Financial Markets Abuse Act "by disseminating false, exaggerated or misleading information, spreading false rumours, or putting into effect simulated or artificial operations or transactions or orders".
I am sure the correspondent will appreciate that the MFSA acts on facts and not on "fishy smells" and "raised eyebrows".
Robert Aquilina, manager, information office, The Malta Financial Services Authority, Mrieħel
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l Galea
Sep 27th 2008, 21:33
Can the MFSA please investigate how the insurance companies have a common book listing all vehicles and all insurances value your vehicle according to the year and make at the same value as found in the book?
Is this not a cartel to the detriment of the Maltese customers instead of competition?
Albert Bezzina
Sep 27th 2008, 13:57
The MFSA acts on facts (maybe the Eagle star issue was also a case of "fishy smells" and "raised eyebrows"). Here is a challenge. Will the MFSA ensure that Insurance premiums on new motor vehicles will be ammended to reflect the new prices of passenger cars when the new car tax regime is announced? Always presuming that car prices will go down (by not much surely) and even if road tax will increase, the insured will expect a proportional reduction (or increase) in premiums. Any increases will further demonstrate what extra costs citizens have to endure as a consequence of the car taxes imposed.
J. Borg
Sep 27th 2008, 11:54
Prevention better than cure?