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Update on the FCA-ordered Review into Interest Rate Hedging Product Mis-selling
Posted on 12 November 2013 by Carter-Ruck
On 29 June 2012, the FSA (as it was then; it became the FCA on 1 April 2013) announced the findings of its initial 2 month long review into widespread complaints that UK banks had mis-sold complex interest rate hedging products such as Swaps and Structured Collars to small and medium sized businesses (SMEs) in the U.K. [30,000 of these products were sold, with the vast majority entered into between 2005 – 2008.]
