Alternattiva Demokratika – The Green Party said that following the latest ruling of the Malta Financial Services Authority regarding the Bank of Valletta multimanager property fund (the financial regulator pronounced itself on the mis-selling of the fund to retail clients), BOV Chairman Roderick Chalmers and other officials directly involved in the matter should assume responsibility and resign. AD said that Minister Tonio Fenech should assume political responsibility, given Government’s shareholding in the bank as well as due to the fact the BOV Chairman is appointed by Government.
People were misguided by BOV. Minister Tonio Fenech should have seen the writing on the wall and should assume political responsibility for this. AD demands full release of government’s correspondence on the matter.