Financial Mis-selling claims

Fraser Brown is able to assist companies, individuals, and Insolvency Practitioners with financial mis-selling claims that they may wish to bring for losses suffered as a result of negligent advice received in relation to the purchase of various financial products or investments made.

Fraser Brown can also assist Independent Financial Advisors facing allegations that he or she has mis-sold a financial product.

This covers a wide variety of potential claims which are now summarised briefly below:-

  • Interest rate hedging products (IHRPs) is a term used to cover a number of different types of products sold by banks to customers for the purpose of providing protection against interest rate changes in relation to the funding provided by the Bank. 
  • There are four main types of IHRP:  Swaps (fix the interest rate paid by the customer), Caps (place a limit on the interest rate paid), Collars (place a limit on the interest rate paid within a range), and Structured Collars (a more complex structure designed to reduce the floor level of a standard collar so if the rates fall below the bottom of the range the customer is required to pay a higher rate of interest).
  • It has been well publicised that a number of claims involving IHRPs have been made against banks through the Financial Services Authority Financial Redress Scheme (where the customer must be categorised as “non-sophisticated” for the Scheme to apply) and through the Courts.
  • The sale of Tailored Business Loans currently fall outside of the Financial Redress Scheme however in some circumstances these products may have been mis-sold and have led to avoidable losses being suffered by the purchasers leading to claims being made in relation to those products.
  • Fraser Brown also deals with mis-selling claims which are brought in relation to advice received from an Independent Financial Advisor.  This covers a number of different types of investments and insurance products such as Tax-Saving Schemes, Mortgages, and Personal Protection Insurance.
  • It is important to note that strict time limits apply when bringing claims of this nature so if you are considering that you may have a claim then we recommend that you do not delay in seeking advice.  In the case of Insolvency Practitioners acting as an Office Holder to a company with a potential claim you may be negligent if you fail to act within the statutory time limit.

For more information, please contact Fraser Brown’s Insolvency team on 0115 9888 777.

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