Bloomberg has reported on a sharp increase in the number of derivative mis-selling claims seen by companies such as Vedanta Hedging Ltd. since the ‘Brexit’ vote to leave the European Union on June 23rd 2016. In the article, we spoke with Bloomberg regarding the spike in interest for our services post-vote due to the fact that we have seen 18 cases brought to us thus far, with the number continuing to rise week-on-week.
With the total market for foreign exchange derivatives close to $3 trillion globally, the opportunities for banks to use their leverage over small to medium-sized businesses is strong. Here at Vedanta Hedging, we pride ourselves on providing transparency for these derivatives and have successfully over the years seen a number of cases where banks / brokers settle after admitting to their mistakes.
To read more on the Bloomberg article, click here.