Brokers must take heed of Bank of Scotland fine

Money give take

Mathew Rutter, financial services partner at national commercial law firm Beachcroft, warned that although in this case it was a bank that was fined, all firms should pay attention.

"The fine was not for mis-selling, but for sub-standard complaints procedures. For example, the FSA found failures to investigate complaints properly and to assess complaints fairly. It also highlighted a failure to carry out adequate root-cause analysis of complaints and deficiencies in record keeping.

"All firms -

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