http://www.telegraph.co.uk/finance/r...-says-FSA.html
Quote:
More than 90pc of the complex interest rate derivatives sold by banks to small businesses could have been mis-sold, according to the findings of a review by the Financial Services Authority.
The FSA said that its analysis of 173 sales of interest rate hedging products to SMEs by Britain’s four largest banks found that 90pc “did not comply with one or more of our regulatory requirement
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Surely its about time to keep an eye on banks more regulary. Could we have regulator inside all banks who then can oversee that banks business is legit.
The worry here is the thing did not comply to regulatory requirements. So even if we have regulations the flaunt them anyway.
How can we stop them. How many have lost businesses or how many lost jobs due to businesses struggling to meet costs.
This is great article highlighting how bad it makes you angry.
http://www.telegraph.co.uk/finance/n...all-hotel.html