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BOV to compensate ineligible investors

Bank of Valletta said this afternoon that, as it had already stated last June, it would cooperate fully with the Malta Financial Services Authority and compensate ineligible investors in its property fund.

Mazars, an audit firm tasked by the financial services regulator to review the client files, has drawn up a list of bank clients who were not experienced investors and so ineligible to invest in the property fund.

The report was handed over to the MFSA last week and the authority said it will forward the list to BOV for compensation.

BOV said it was looking forward to receiving the list. It said it remained committed to do all it could to conclude the issue satisfactorily for the benefit of all concerned.

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