Matt Scuffham and others from Reuters have produced a special report into SMEs excluded from the FCA IRHP redress scheme, for mis-sold derivatives.
Abhishek Sachdev (FCA Authorised) is interviewed about the problem of allowing the Bank to determine sophistication.
Mr Sachdev is also quoted as saying ‘There are very significant ‘get out’ clauses and banks are prepared to go to incredible lengths to manipulate it’
The full PDF article can be found here Reuters Special Report
the link to the article is here https://uk.reuters.com/article/2014/11/25/uk-britain-banks-sophistication-specialr-idUKKCN0J90YN20141125