Last Tuesday Finance Minister Tonio Fenech again failed to answer a number of Parliamentary Questions submitted to him five months ago relating to the Prospectus currently in force of the La Valette Property Fund. This prospectus carries a statement that it is approved by the MFSA when it is patently obvious that the Prospectus contradicts the result of the investigations of the MFSA of June 2011.
Till today the PQs remained unanswered both in and out of parliament. The Property Fund is still open for subscriptions from the general public. The Malta Financial Services Authority (MFSA) has had enough time to answer in terms of the Press Act to explain their standards of transparency and accountability as a public authority entrusted with investment protection.
These were the questions raised in parliament in early June 2012 and to which no answer has been given by Finance Minister Tonio Fenech in Parliament or by MFSA in the media:
Is the Hon Minister for Finance aware that the La Valette Property Fund is still open for new subscriptions on the basis of the Prospectus of the Fund currently in force dated 10th August 2010?
Is the Minister aware that in spite of the fact that the attention of the Chairman and of the Director General of the MFSA has been drawn on several occasions that the current version of the La Valette Property Fund breaches the Investment Services Act and the Regulations issued by the MFSA itself in terms of the same Act?
Does the Minister appreciate that this is occurring to the detriment of consumers of financial products who may be considering whether to subscribe to a fund and who are entitled to rely on the veracity of a prospectus of a Fund, especially a prospectus that states that its provisions have been approved by the MFSA?
Does the Minister appreciate that the natural consequences of the Administrative Sanctions, Penalties and Report of the MFSA of the 16th June and 25th June 2011 in relation to Valletta Fund Management and Bank of Valletta with regards to the La Valette Property Fund in which Reports the MFSA confirmed that both entities, in their respective roles of Manager and Custodian of the Fund, had interpreted wrongly the provisions of the prospectus relating to the investment restrictions and that they had failed to exercise due diligence and their oversight and monitoring responsibilities, and which decisions were not appealed necessarily means that the current prospectus is incorrect, false, inconsistent and misleading?
Is the Minister aware that the failure by the La Valette Funds Sicav plc to keep the essential elements of the Prospectus up to date in order for investors to make informed judgement about the investment proposed to them, in particular about the investment objectives, policies and restrictions of the scheme, together with the extent of use of leverage, in terms of the MFSA Regulations, continues to take place in the most brazen manner in full view of the MFSA?
Does not the Minister of Finance believe that the impotency of MFSA to enforce its own regulations demonstrates a regulatory authority lacking in personality and effectiveness in furthering the mission entrusted to it by law?
Read the original here:
After 5 months questions still too hot to handle
- What Causes Erectile Dysfunction and How to Treat Impotency - Video - April 8th, 2012 [April 8th, 2012]
- Life Line - Ayurveda for Male Impotency - Tv9 - Video - April 8th, 2012 [April 8th, 2012]
- Vivien- Sexual Impotency vs. Asexuality - Video - April 8th, 2012 [April 8th, 2012]
- Small PP Simmons - Intellectual Impotency - Video - April 8th, 2012 [April 8th, 2012]
- Delhi Man Killed After He Gave Impotency Drug To Wife's Paramour - Video - April 8th, 2012 [April 8th, 2012]
- Home Grown - Impotency - Video - April 8th, 2012 [April 8th, 2012]
- Pri-Jax - Permanent Treatment for Premature Ejaculation,Impotency ,Erectile Dysfuntion - Video - April 8th, 2012 [April 8th, 2012]
- anti smoking impotency.flv - Video - April 8th, 2012 [April 8th, 2012]
- Penile implant surgery for impotency.avi - Video - April 8th, 2012 [April 8th, 2012]
- A GREEN Approach To PROSTATE - April 8th, 2012 [April 8th, 2012]
- How to Stop Impotency - Natural Treatment For Impotency - Video - April 8th, 2012 [April 8th, 2012]
- Homemade Remedies For Premature Ejaculation and Impotency - Video - April 8th, 2012 [April 8th, 2012]
- Smoking Causes Impotency - Video - April 8th, 2012 [April 8th, 2012]
- 'FOOD TAKEN IN RECYCLED PLASTIC COULD LEAD TO IMPOTENCY' - Video - April 8th, 2012 [April 8th, 2012]
- Herbal V Silagra Best Medication On Erectile Dysfunction - April 8th, 2012 [April 8th, 2012]
- Impotency - Video - April 8th, 2012 [April 8th, 2012]
- Ben Novak: The Impotency of Student Government - Video - April 8th, 2012 [April 8th, 2012]
- Election Commission and the peril of reforms - April 25th, 2012 [April 25th, 2012]
- Serie A Week 33, Preview And Fixtures: Let's Try This Again, Shall We? - April 25th, 2012 [April 25th, 2012]
- Houston Rockets Playoff Spot Gag Job Means Change Should and Must Come - April 25th, 2012 [April 25th, 2012]
- Singles in the City | An insider's guide to the Tulsa dating scene - April 25th, 2012 [April 25th, 2012]
- Man sues BMW for "persistent erection" after motorcycle ride - May 2nd, 2012 [May 2nd, 2012]
- California man sues BMW for persistent erection - May 2nd, 2012 [May 2nd, 2012]
- Trashed Mission District businesses want answers - May 2nd, 2012 [May 2nd, 2012]
- New over-the-counter sperm test claims to help men test their fertility - May 7th, 2012 [May 7th, 2012]
- Newton-John: Grease was life-changing - May 7th, 2012 [May 7th, 2012]
- O'Shaughnessy in BGT semis - May 7th, 2012 [May 7th, 2012]
- The Occupiers leave the building - May 12th, 2012 [May 12th, 2012]
- Viagra helps Swedish gangs get profits up - May 21st, 2012 [May 21st, 2012]
- Stress of trying for a baby can cause men 'impotence and lead to adultery' - May 21st, 2012 [May 21st, 2012]
- Healthy Memphis: Get handle on high blood pressure to avoid disease - May 21st, 2012 [May 21st, 2012]
- Tik and HIV: A ticking time bomb - May 25th, 2012 [May 25th, 2012]
- U.S. task force recommends against routine PSA screening for prostate cancer - May 25th, 2012 [May 25th, 2012]
- The role of raisins in sexual health - June 2nd, 2012 [June 2nd, 2012]
- Sound Off! (June 3) - June 3rd, 2012 [June 3rd, 2012]
- High in education, low in virtue - June 5th, 2012 [June 5th, 2012]
- THE EDUCATED UNEDUCATED: High in education, low in virtue - June 5th, 2012 [June 5th, 2012]
- Why David Simon is wrong about paywalls - June 5th, 2012 [June 5th, 2012]
- Euro 2012 Day 2: 5 Takeaways from Group B Round 1 - June 10th, 2012 [June 10th, 2012]
- Women write better sex, says Martin Amis - June 11th, 2012 [June 11th, 2012]
- Mumbai's Kokilaben hospital unveils robotic arm for surgeries - June 11th, 2012 [June 11th, 2012]
- 2012 Volkswagen Tiguan review - June 11th, 2012 [June 11th, 2012]
- Turkey: Could Ankara Make a Switch to a Powerful Presidency? - June 15th, 2012 [June 15th, 2012]
- Asia needs to fix financial safety net - June 16th, 2012 [June 16th, 2012]
- Early intervention gives hope - June 17th, 2012 [June 17th, 2012]
- San Antonio's Cisneros opens up about cancer battle - June 19th, 2012 [June 19th, 2012]
- Women in Iraq face court-ordered virginity tests - July 2nd, 2012 [July 2nd, 2012]
- Angels 3, Indians 0: Tribe lays egg on scoreboard - July 3rd, 2012 [July 3rd, 2012]
- Defending the Prophet - July 4th, 2012 [July 4th, 2012]
- Not having child does not prove impotency: High Court - July 24th, 2012 [July 24th, 2012]
- As We See It: Political conventions: Why bother - August 29th, 2012 [August 29th, 2012]
- Results of Some Natural BPH Treatments Are Uncertain While Dr. Allen’s Device Can Help to Protect from Prostate Gland ... - September 30th, 2012 [September 30th, 2012]
- Despite Tory carping, Canadians value the United Nations - October 2nd, 2012 [October 2nd, 2012]
- Louisville Army veteran sues VA after suffering frostbitten penis - October 4th, 2012 [October 4th, 2012]
- Natural Remedies - Natural Way to Promote Healthy Vitality in Men. - October 6th, 2012 [October 6th, 2012]
- 'Once Upon a Time': Charming in charge and Regina's redemption - October 8th, 2012 [October 8th, 2012]
- Joining the World in Prayer for Malala - October 13th, 2012 [October 13th, 2012]
- Long Valley cancer specialist: Complexity of prostate cancer requires complex treatments - October 15th, 2012 [October 15th, 2012]
- Anti tobacco case taken up for hearing - November 1st, 2012 [November 1st, 2012]
- Try Dr Allen’s Device for Natural BPH Termination Now as New Expensive Laser Equipment Requires More Patients for ... - November 1st, 2012 [November 1st, 2012]
- TAKE NOTE, MCA: After mega dinner, mega DISASTER awaits at GE13 - November 1st, 2012 [November 1st, 2012]
- House resolution seeks to amend Animal Welfare Act to further curb dog meat trade - November 1st, 2012 [November 1st, 2012]
- Tadalis SX - Video - November 1st, 2012 [November 1st, 2012]
- ER Season 5 Episode 13 - Choosing Joi - Video - November 1st, 2012 [November 1st, 2012]
- How to be PSYCHIC - Learn to use powers of your mind and intuition abilities - Video - November 1st, 2012 [November 1st, 2012]
- Impotency best treatment with Acupuncture -Malaysia Mastertole KL centre of Thetole herbs - Video - November 1st, 2012 [November 1st, 2012]
- world best treatment for energy patients form all over the world-Malaysia Mastertole Thetole - Video - November 1st, 2012 [November 1st, 2012]
- VIAGRA impotency sildenafil pharmacy pills viagra cialis - Video - November 1st, 2012 [November 1st, 2012]
- Impotency- Home Grown - Video - November 1st, 2012 [November 1st, 2012]
- Suhita Thatte shares love for GANDHIGIRI with Female Impotency-TV9 - Video - November 1st, 2012 [November 1st, 2012]
- Dhatri Vita vigor vigour vitality sex male Dhatri Vita Sexual Health Wellbegin sureherbalcure.com - Video - November 1st, 2012 [November 1st, 2012]
- HOT SHOT - Video - November 1st, 2012 [November 1st, 2012]
- HOT SHOT AND NON STOP - Video - November 1st, 2012 [November 1st, 2012]
- MANIMAL FARM.1 - Video - November 1st, 2012 [November 1st, 2012]
- SHEEP - Video - November 1st, 2012 [November 1st, 2012]
- Smoking Causes Impotency.mp4 - Video - November 1st, 2012 [November 1st, 2012]
- About use kamagra Tommy - Video - November 1st, 2012 [November 1st, 2012]
- Half of male population in Punjab are impotent - Video - November 1st, 2012 [November 1st, 2012]
- Prostate Growth Doesn’t Mean Prostate Cancer and Dr. Allen’s Device Can Terminate This Enlargement Naturally ... - November 3rd, 2012 [November 3rd, 2012]
- By Kamagra drugs to Avoid Impotency - Video - November 7th, 2012 [November 7th, 2012]