I am not sure whether Bank of Valletta intends commenting on my view (February 11) that an act of any serious bank informing its clients of a new fund’s launch constitutes an implicit advice to them to consider investing therein.

I myself did not invest in the bank’s Multi Manager Property Fund but I did advise someone to invest, on the premise that “the bank is serious enough to know where to invest without taking unnecessary risks”.

As things turned out, I was, of course, terribly mistaken, hardly imagining that the personnel at the bank’s head office were so different from those at the branches, the bank’s forte, which have kept me loyal both as a client and as a shareholder.

On February 13, the person I advised received two communications: one from MFSA “now closing your file in view that the review of your complaint... concluded” and the other from Evarist Bartolo, MP: “The PL views the compensation to date, apart from being discriminatory, as being inadequate and unacceptable”, while emphasising that the Government’s role, as the BoV’s biggest shareholder with the right to appoint its chairman, should ensure that it “shoulders its responsibility and pays you adequate compensation” and without resorting to “unacceptable excuses” such as “experienced investors” or “execution-only without advice”.