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Vedanta Hedging calls for appeals process for mis-sold swap review

Vedanta Hedging has been quoted by the Yorkshire Evening Post about the FCA Review process for mis-sold interest rate swaps.

Vedanta believe that an appeals process should be put in place and that this would not be difficult for the FCA to implement. This is because SMEs may not be eligible for the Financial Ombudsman Service (the FOS accepts only micro-enterprises as eligible complainants) and the SME may have passed their 6 year limitation period to mount a legal claim.

Vedanta are also concerned that SMEs will not be allowed to disclose publicly the consequential losses they are provided by the Bank through this process

http://www.yorkshireeveningpost.co.uk/news/business-news/business-headlines/adviser-speaks-out-against-confidentiality-clauses-1-5665042

 

Nadia Patel

Nadia has a degree in Business Management and a Diploma for Financial Advisers (Level 4). She has ten years of experience in financial services. This includes FSA regulated adviser roles in HSBC, Halifax and Nationwide. As senior manager at Vedanta Nadia is responsible for managing the office, client contact and marketing for the business.

Nadia Patel

Nadia has a degree in Business Management and a Diploma for Financial Advisers (Level 4). She has ten years of experience in financial services. This includes FSA regulated adviser roles in HSBC, Halifax and Nationwide. As senior manager at Vedanta Nadia is responsible for managing the office, client contact and marketing for the business.