Investors, get wise: Know your rights before investing your money

The ministry for Consumer Affairs will be distributing a leaflet that outlines investors’ right and obligations when making financial investments and using banking services in all homes, in a bid to better inform people of potential risks associated with such services.

“From our research, we realised that many people are not completely aware of their rights and so we felt it was necessary to publish these charters,” said Consumer Affairs minister Helena Dalli.

Dalli was addressing those present at the launch of the charters on financial investments and banking services for consumers. She said that the government is committed to strengthening consumer rights within the financial sector and that the charters were part of the government’s pledge to be “closer to consumers.

Dalli said that not all people might fully know what charges and fees are involved in certain transactions or services.

“We want people to have all the information, before they enter into a commitment. Mistakes will always be made but, through these charters, we are trying to pre-empt certain mistakes,” said the Minister.

The charters highlight rights such as being informed of all costs associated with the services they are using, the right to be informed if there is a change in fees or particular conditions, as well as being clearly informed of the risks associated with a particular investment.

Apart from being distributed in all homes, the charter will also be available online, on the ministry’s website.