The Malta Financial Services Authority (MFSA) has for some time been investigating a number of complaints filed by consumers in respect of certain preferred securities sold to investors, including perpetuals issued by Lehman Bros.

These securities have featured in a judicial protest filed yesterday by 40 investors alleging breaches by Bank of Valletta plc.

The MFSA will make a public statement on its findings and conclusions after that these investigations have been brought to a proper conclusion, with clear and specific outcomes.

The process relating to this particular on-going investigation is now at an advanced stage.

"As has happened in other investigations, should the authority determine that a person who holds a licence, or any other person, has contravened any provision of law or of any regulations, it will impose appropriate administrative sanctions, and publish a statement to that effect.

"Until the publication of such a statement, all proceedings are subject to strict rules of confidentiality," the authority said.

See also:

http://www.timesofmalta.com/articles/view/20110914/local/investors-file-judicial-letter-against-bov.384694

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