SMEs TOLD TO SEEK QUALIFIED INDEPENDENT ADVICE ON HEDGING
Mohindra Maini hosted a round table discussion for SME companies with high profile speaker Abhishek Sachdev, Founder of Vedanta Hedging Ltd based in London. Abhishek was an Associate Director at Lloyds Bank for 8 years before setting up his independent advisory firm, Vedanta Hedging which is fully authorised by the FSA to advise clients on hedging. He has recently been interviewed by the BBC and the Telegraph on the matter, given the growing number of accusations that are now emerging regarding Banks mis-selling to businesses. As part of the work he has been doing on cases of interest rate swap mis-selling, he has recently been working with UK’s top Barristers , providing expert reports on the alleged mistakes made by the Banks. Abhishek was asked by the FSA to help advise them on their investigation. Abhishek also advises politicians and journalists about this issue.
Sunil said “Vedanta Hedging fully understands the complex mis-selling of products and the motives behind the selling of them. Our Round Table Lunch gave our SME business guests the opportunity to understand how hedging can protect businesses against adverse interest rates and currency movements.” However, Abhishek’s firm also helps SME’s who are agreeing new hedging with their Banks and feels “that without hedging you can be at a significant disadvantage to your competitors. There is a lot of confusion and misleading information regarding the issue in the media. Hedging is still a way of protecting your business. Even the very large businesses don’t have the expertise to be able to understand the underlying mechanics and pricing of these opaque products.”