MFSA investigation on preferred securities sold to investors at advanced stage

The Malta Financial Services Authority (MFSA) has for some time been investigating a number of complaints filed by consumers in respect of certain preferred securities sold to investors, including perpetuals issued by Lehman Bros. These securities have...

The Malta Financial Services Authority (MFSA) has for some time been investigating a number of complaints filed by consumers in respect of certain preferred securities sold to investors, including perpetuals issued by Lehman Bros.

These securities have featured in a judicial protest filed yesterday by 40 investors alleging breaches by Bank of Valletta plc.

The MFSA will make a public statement on its findings and conclusions after that these investigations have been brought to a proper conclusion, with clear and specific outcomes.

The process relating to this particular on-going investigation is now at an advanced stage.

"As has happened in other investigations, should the authority determine that a person who holds a licence, or any other person, has contravened any provision of law or of any regulations, it will impose appropriate administrative sanctions, and publish a statement to that effect.

"Until the publication of such a statement, all proceedings are subject to strict rules of confidentiality," the authority said.

See also:

http://www.timesofmalta.com/articles/view/20110914/local/investors-file-judicial-letter-against-bov.384694

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