-
RBS announces losses in the first quarter
- May 9, 2016
- Posted by: cooperstern
- Category: Other
No CommentsThe 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
-
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
-
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
-
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
-
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
-
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
-
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
-
£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
-
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
-
Barclays Fined ANOTHER $150m for Forex Practices
- November 24, 2015
- Posted by: cooperstern
- Category: Currency Claims, Investment Claims, Other
24 Nov 2015 Barclays have been hit with another huge fine of $150m (around £100m) for its Forex practices; they have been found to have mislead its customers using its currency trading systems. After an ongoing investigation The New York Department of Financial Services (DFS) found that Barclays would cancel customers trades if the market
- 1
- 2
Have any questions? Get in touch with the Cooper Stern team today by submitting an inquiry online.