La Valette Fund director resigns after reprimand
John C. Ripard, a director of the La Valette Multi-Manager Fund, has resigned after having been reprimanded by the MFSA for disposing of his holdings in the Fund whilst in possession of sensitive information which was not available to the public and which he became privy to in his capacity as a director.
"As a result of the Malta Financial Services Authority’s investigation on the redemption of units in the La Valette Multi Manager Property Fund, Mr Ripard has voluntarily tendered his resignation from the post of director on the boards of both the La Valette Funds SICAV p.l.c. and the Wignacourt Funds SICAV p.l.c." the MFSA said.