The FSA is trying to ascertain intermediaries' exposure to precipice bonds and the potential for mis...
The FSA is trying to ascertain intermediaries' exposure to precipice bonds and the potential for mis-selling claims via a 15 point questionnaire. Firms have been asked for the total value of all precipice bonds, or structured capital, at risk products (Scarps) they have sold. It also wants to know how many of these were transacted direct or on an advisory basis, going back to 1 January 1998. In addition, the FSA has asked for the number of mis-selling claims each firm has faced so far, the amount of compensation paid out and the scale of liabilities moving forward, along with the firm's ...
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