BOV to compensate ineligible investors

vincent Lia

Jan 5th, 21:07

Peter Murray, why do we pay MFSA from taxpayers money? It is there to regulate and should have took action to stop BOV from hard selling investments. This is still going on, banks ring up their customer sell them products they may not want.This is the job of MFSA. The money that the bank will pay will come from cautious investors saving in a life policy by having a smaller return.

matthew tanti

Jan 5th, 19:45

the prospectus which all prospective investors are supposed to read, but few bother to do since they are only interested in earning a quick buck, lays down the rules for eligiility. in other words, an "experienced investor" is what the propectus says it is. if investors did not like the rules, they should not have invested in the first place.

Albert Borg

Jan 5th, 09:40

What does make "experienced investors" money or the experience??? It's not a reason that experience of the investors is calculated on a certain sum they invested in a year. This is BAD by the MFSA and we still remain without our money. That's what we'ré getting from these authorities paid from the MALTESE GAHAN's taxes.

Anthony Farrugia

Jan 5th, 09:22

So it always bank's or independent financial advisor's fault if an investment goes wromg. Some "investors" should restrict themselves to savings or term deposits ;ideally, cash in mattress only. These people do not ask questions or do basic (repeat basic) research into what they are putting their money, but they cannot be bothered and expect everything on a plate.Caveat emptor -buyer beware.

Alan Kay

Jan 5th, 09:20

In response to "ineligible investors" What on earth is that? - the principle of attitude to risk applies.

This is first base in the process and if such attitude is cautious then an investor shouldn't be anywhere near risk funds and only offered deposit based secure investment.

If BOV and it's advisers have ignored this principle, they are clearly liable, as the outcome has shown.

Joe Grech

Jan 4th, 20:14

''ineligible investors '' - WHAT on earth is that?
Even the MFSA is not a sound authority if it 'groups' investors in this rather strange manner!

E. Azzopardi

Jan 4th, 19:20

I, and I know of quite a few others, who were not "experienced investors" had invested with another company in Malta and we all lost money. They knew that but still went ahead and offered the investment to us. When a supposed "Financial Planning ADVISOR" with a so called "reputable company" advises you what to do, then you trust him/her.

I hope that we shall also be compensated.

Steve Sant

Jan 4th, 19:10

Pity the National Bank of Malta restitution remains a dilemma. A lot of votes will be lost this time around with the Prime Minister promising some form of compensation come hell or high water.
Nothing has happened to date.
Our conscience never dies, its that we get better at ignoring it.

Robert Cassar

Jan 4th, 18:34

Never ever invest in any of these scam investments that any bank offer not only bov. I have lost big money also with the private retirment plan offered by a local bank and when I told them I want to stop it all hell broke loose and they did not want to release my cash strait away.. I got my lesson and my money I keep it just as my own savings i

Rita Borg

Jan 4th, 18:22

Why do i have to hear from Bov if they are going to compensate me or not. and if not i would like to know ,what the reasons are . The MFSA schould do their job once and for all. These things only happen in Malta.

vincent Lia

Jan 4th, 18:16

Since when a person have to be eligible to invest. The culprit is MFSA for not stopping any bad advertising or hard selling. This is still going on. Should these investors have gained they would all have all been eligible investors. By ordering compensation MFSA is encouraging non experienced investor not to heed any warnings. Other cautious investor with insurance policies have to pay for this.