Tag: Derivatives

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Swaps Complaints in the Financial Ombudsman Service Annual Review for 2012/2013

The Financial Ombudsman Service (FOS)  was set up under the Financial Services and Markets Act 2000 to resolve individual disputes between consumers and financial businesses. It has just published its…

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The Times: Banks’ secretly settling swaps mis-selling cases

The Times Newspaper has been given inside information from a number of reputable sources that banks are striking secret settlement deals with small businesses over the mis-selling of interest…

RBS Announce Results: Provision for Swaps Mis-selling Increased by 1300%

The Royal Bank of Scotland have today announced their 2012 results.  These show an operating loss of £5.2 billion with a total loss for 2012 of £5.8 billion. They…

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Barclays announce 2012 results – Provision for swaps mis-selling £850 million

Barclays Bank have today announced their results for 2012 [Barclays Bank Results 2012]. Barclays’ Announcement on Swaps Mis-selling (IRHPs or IRSAs) These deal with swaps mis-selling on page…

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What is Sophistication in the FSA Swaps Mis-selling Scheme?

The Financial Services Authority’s announcement on the swaps mis-selling pilot reviews (31 January 2013) brought in a refinement of the 29 June 2012 announced test of sophistication. That test…