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Vedanta Hedging in the Telegraph – regarding Banks tactics re: Interest Rate Swap Mis-Selling

As part of the Telegraph Investigation that Abhishek Sachdev instigated, the Telegraph have further increased pressure surrounding this issue of Interest Rate Swap Mis-Selling.

The Telegraph have put pressure on the FSA, the Treasury Select Committee, Labour MPs and Senior Conservative MPs including Ministers.

In this article, the Telegraph ask Abhishek Sachdev of Vedanta Hedging about some of the tactics Banks are using to avoid handling the Interest Rate Swap Mis-Selling complaints by Small Businesses.

“I can only do my job if I have access to pretty detailed information on the way a product was sold, but getting this information out of the banks has definitely got more difficult,” says Abhishek Sachdev, another former derivatives salesman who is now advising mis-selling victims.

“The banks know the records of most small businesses can be pretty limited and that by making access to the sales information tricky they can make it virtually impossible to make a case against them,” says Mr Sachdev.

 http://www.telegraph.co.uk/finance/rate-swap-scandal/9233928/Pressure-grows-on-Cable-as-mis-selling-crisis-deepens.html

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.