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RBS announces losses in the first quarter
- May 9, 2016
- Posted by: cooperstern
- Category: Other
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The Royal Bank of Scotland (RBS) has not yet made a profit since 2007, after it received a £46 billion UK state bailout during the financial crisis. The RBS is still more than 70% owned by the Government. RBS have reported losses in the first quarter, and have cautioned on the timing of a return
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Osborne Considering Axing Tax Free Pension Lump Sum
- February 26, 2016
- Posted by: cooperstern
- Category: Annuity Claims, Investment Claims, Other
26 Feb 2016 The Chancellor, George Osborne, is considering axing the option to take 25% of your pension as a tax free lump sum when you turn 55. Many people currently look forward to receiving this lump sum as a windfall when heading in to retirement, however ex-pension minister Steve Webb, believes this is up
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FCA Considering Increasing FOS Compensation Cap
- February 10, 2016
- Posted by: cooperstern
- Category: Investment Claims, Other
10 Feb 2016 The Financial Conduct Authority (FCA) is considering increasing the Financial Ombudsman Services’ (FOS) current compensation cap for small businesses from its current level of £150,000. In a recent report published by the FCA, it contemplates increasing the cap, and outlines various options to expand the eligibility criteria. Back in 2011 the cap
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Half of all Lloyds Bank Staff Feel Under Pressure to Mis-sell
- January 26, 2016
- Posted by: cooperstern
- Category: Investment Claims, Other
26 Jan 2016 Half of all Lloyds Banking Group staff still feel under pressure to mis-sell, says the Banks union. Back in January 2015 Lloyds Bank ditched their old-fashioned sales targets in an attempt to clean up its culture, however Bank staff still feel like they have to ‘push’ products to customers. 18,000 staff members
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Coutts & Co’s Sins: Still Under the Spotlight
- January 12, 2016
- Posted by: cooperstern
- Category: Investment Claims, Other
12 Jan 2016 With the Royal Bank of Scotland (RBS) owned Coutts & Co being the first, but widely expected not to be the last to admit to exposing thousands of clients to unsuitable investments, another bank mis-selling scandal has unfolded. Coutts has admitted to having exposed thousands of UK customers to unsuitable investments for
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2016: Banks Expecting Billions More in Fines and Litigation
- January 4, 2016
- Posted by: cooperstern
- Category: Investment Claims, Other
04 Jan 2016 According to a group of experts, Banks are expecting to be hit with billions more in fines and litigation costs this year. Past debaucheries such as Payment Protection Insurance (PPI) mis-selling and foreign exchange rate rigging is set to substantially affect banks’ profits for another year. Despite what banks may wish, mis-selling
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FCA Slam Investment Firms for Mis-selling to Elderly
- December 23, 2015
- Posted by: cooperstern
- Category: Investment Claims, Other
23 Dec 2015 A new report by the Financial Conduct Authority (FCA) has slammed a number of investment firms for not preventing mis-selling to the elderly. Many investment firms are believed to mis-sell to the elderly on industrial levels. The recent report has brought to light the scale of the problem, criticising many firms for
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£100m Lost in ‘Storage Pod’ Investments
- December 9, 2015
- Posted by: cooperstern
- Category: Investment Claims, Other
09 Dec 2015 Over 1,000 investors have lost around £100m in a new huge mis-selling scandal. Jackson Francis Ltd, a Liverpool-based sales company, have admitted to persuading retirees to part way with their pensions by investing in a ‘Storage Pod’ investment scheme. A Storage Pod Investment (SPI) is an investment in which funds are used
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Have You Taken Out an ‘Auto-Pilot’ Bond pre. 2009?
- November 30, 2015
- Posted by: cooperstern
- Category: Investment Claims, Other
30 Nov 2015 In a previous blog we revealed how RBS recently admitted to mis-selling ‘structured-deposit’ investments, known as ‘Auto-Pilot’ Bonds. These bonds, which have been described as ‘hideously complex’, implied interest would be paid over a 5 year period based on the performance of a number of stock markets. In a recent update, it has
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