Following a review by the FSA into interest rate swap agreements sold to small businesses, they found that 90% failed to meet regulatory requirements and that a significant proportion of customers should get compensation.
The banks have been accused of selling “absurdly complex products” by the Financial Services Authority. Following these findings a detailed review will now take place and customers of the banks will be contacted where relevant. If you would like to read the FSA report, a copy can be found here
