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Arbiter's Decisions

You can search for decisions delivered by the Arbiter for Financial Services and judgements delivered by the Court of Appeal (Civil, Inferior) for those decisions that have been appealed.

You may refine your search as wanted by the name of the financial services provider, the language of the decision, the decision year, decision date from/to, the sector, decision outcome, and whether the decision has been appealed or not. If you select by sector (e.g. 'Banking'), you may filter down your choice by selecting issue (e.g. 'Charges') and/or product (e.g. 'Cards'). Please browse the drop-down filters on the left-hand side.

The database of Arbiter's decisions is updated periodically. In accordance with the OAFS policy, complainants' names in such decisions are pseudonymised (the actual names are replaced by unrelated alphabetical references).

The remit of the Arbiter for Financial Services is to investigate and adjudicate complaints lodged by eligible complainants (individuals and micro-enterprises) against financial services providers who are licensed or authorised by the Maltese financial services regulator. When cases are referred to the Arbiter and a decision is issued, such a decision is binding on both parties.

Either party can request the Arbiter for clarification or correction to any computation, clerical, typographical, or similar errors within 15 days from the delivery of a decision. Decisions may be upheld in full, partially upheld, or rejected, and may be appealed by any of the parties.

As to the Court of Appeal (Civil, Inferior) judgements, we refer to the Court Services Agency's eCourts website (https://ecourts.gov.mt/onlineservices/) for the relevant case reference numbers and appeal judgements. Information about appealed decisions on our website is updated periodically. However, such information should always be cross-checked with the eCourts website as we make no representations or warranties of any kind, express or implied, as to its completeness, accuracy or reliability.

Please get in touch with us through our “Contact us” page if you come across any broken links or other incorrect information.Thank you.

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ASF case reference:
ASF 388/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
All Invest Company Limited
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
30/01/2018
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 467/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
All Invest Company Limited
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
30/01/2018
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 389/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
All Invest Company Limited
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
30/01/2018
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 092/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
Bank of Valletta plc
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
01/01/2018
Outcome:
Not Upheld
Reason:
Merit (Other)
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 462/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
Zenith Finance Limited(formerly MFSP Financial Management Limited)
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
01/01/2018
Outcome:
Not Upheld
Reason:
Merit (Case not proven)
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 483/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
Crystal Finance Investments Limited
Category Issue:
Misselling / Suitability
Product/Service:
Miscellaneous (securities and funds)
Date of Arbiter's Decision:
28/12/2017
Outcome:
Not Upheld
Reason:
Merit (Other)
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 449/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
Crystal Finance Investments Limited
Category Issue:
Misselling / Suitability
Product/Service:
Miscellaneous (securities and funds)
Date of Arbiter's Decision:
28/12/2017
Outcome:
Partially Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
5/2018
ASF case reference:
ASF 459/2016
Sector:
Insurance
Language:
Maltese
Financial Services Provider:
Mapfre MSV Life plc
Category Issue:
Value at maturity
Product/Service:
Life-related
Date of Arbiter's Decision:
28/12/2017
Outcome:
Partially Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
6/2018
ASF case reference:
ASF 487/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
Crystal Finance Investments Limited
Category Issue:
Misselling / Suitability
Product/Service:
Miscellaneous (securities and funds)
Date of Arbiter's Decision:
28/12/2017
Outcome:
Partially Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
3/2018
ASF case reference:
ASF 371/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
Crystal Finance Investments Limited
Category Issue:
Misselling / Suitability
Product/Service:
Miscellaneous (securities and funds)
Date of Arbiter's Decision:
28/12/2017
Outcome:
Partially Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
04/2018
ASF case reference:
ASF 438/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
All Invest Company Limited
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
28/12/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 440/2016
Sector:
Insurance
Language:
Maltese
Financial Services Provider:
Mapfre Middlesea plc
Category Issue:
Rejection of claim
Product/Service:
Travel-related
Date of Arbiter's Decision:
28/12/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 440/2016
Sector:
Insurance
Language:
Maltese
Financial Services Provider:
Antes Insurance Brokers Limited(formerly Island Insurance Brokers Limited)
Category Issue:
Rejection of claim
Product/Service:
Travel-related
Date of Arbiter's Decision:
28/12/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 444/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
All Invest Company Limited
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
28/12/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 415/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
Crystal Finance Investments Limited
Category Issue:
Misselling / Suitability
Product/Service:
Miscellaneous (securities and funds)
Date of Arbiter's Decision:
28/11/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
68/2017
ASF case reference:
ASF 377/2016
Sector:
Insurance
Language:
English
Financial Services Provider:
Citadel Insurance plc
Category Issue:
General admin/customer service
Product/Service:
Life-related
Date of Arbiter's Decision:
28/11/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
67/2017
ASF case reference:
ASF 015/2017
Sector:
Investments
Language:
Maltese
Financial Services Provider:
All Invest Company Limited
Category Issue:
Misselling / Suitability
Product/Service:
Complex/Professional/Experienced/Structured investments
Date of Arbiter's Decision:
28/11/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 022/2017
Sector:
Investments
Language:
English
Financial Services Provider:
Sovereign Pension Services Limited
Category Issue:
Delays
Product/Service:
Pensions-related
Date of Arbiter's Decision:
28/11/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 484/2016
Sector:
Investments
Language:
English
Financial Services Provider:
STM Malta Pension Services Limited (formerly STM Malta Trust and Company Management Limited)
Category Issue:
General admin/customer service
Product/Service:
Pensions-related
Date of Arbiter's Decision:
28/11/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed
ASF case reference:
ASF 397/2016
Sector:
Investments
Language:
Maltese
Financial Services Provider:
All Invest Company Limited
Category Issue:
Misselling / Suitability
Product/Service:
Miscellaneous (securities and funds)
Date of Arbiter's Decision:
28/11/2017
Outcome:
Upheld by Arbiter
Reason:
N/A
Appeal Court reference:
Not Appealed