Having already exposed the mis-selling of derivatives to SMEs in 2011, Vedanta Hedging has now been instrumental in exposing another banking scandal – LOBO loans to Councils.
It is also very concerning that Council officers took advice from what they considered to be Independent Treasury advisers. However, the programme shows that these advisers themselves were receiving commissions from Banks. This created a clear conflict of interest for these hedging advisers. It is essential that you seek truly impartial and independent hedging advice from a FCA regulated firm such as ours.
To the Channel 4 Documentary click here
A recent Times article shows how Councils still face £8bn to exit these loans – at a time when Town Halls are under their greatest ever financial pressure.
The Times article can be found Councils owe £8bn for ‘lose-lose bet’ loans _ The Times