Bank of Valletta should act in line with the conclusions of a report carried out by the international company Mazars on the la Vallette Multi-Manager Property Fund and compensate investors the report is saying should be compensated.

In a statement this afternoon, PL spokesman Charles Mangion said that although the issue was not a legal one and not not be so, the bank should shoulder its corporate social responsibility and give compensation to all investors in the fund who were advised to invest by bank officials. This was the ethical thing to do.

Dr Mangion said that the people identified in the report should be informed they were going to be compensated as soon as possible. Such compensation would not put the bank’s financial situation at risk and would increase the people’s confidence in the bank.

This move was also essential for the strengthening of the financial sector as consumers would feel protected and safeguarded.

The regulator, Dr Mangion said, should strengthen its structures to safeguard consumers to ensure that all those advising consumers on investment acted with greater responsibility.