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Found 4 results

  1. https://uk.news.yahoo.com/firms-fined-over-misleading-product-144035347.html#vddHLqP Yorkshire Building Society and Credit Suisse have been fined a total of £3.8 million for misleading inexperienced customers over investments that had almost zero chance of achieving maximum returns. The fines centred on a product called Cliquet designed by Credit Suisse International (CSI) and sold to nearly 84,000 customers who ploughed in £797 million. It was aimed at "unsophisticated investors with limited investment experience" through distributors such as Yorkshire Building Society (
  2. Barclays has gone to shareholders to raise £5.8bn after the bank revealed it faced a capital shortfall of £12.8bn to hit a new Bank of England-imposed safety buffer. In a statement this morning, the bank said it would launch a deeply discounted rights issue to help close the gap between its current so-called leverage ratio and the one being imposed on British banks by regulators. The announcement came as Barclays unveiled its results for the first half of the year, which revealed larger than expected provisions against the cost of compensating customers mis-sold payment protection insura
  3. US investment bank Citigroup is to pay $730m (£484m) to settle a class-action suit by bondholders brought over the financial crisis. The suit alleged Citi misled buyers of its bonds over its exposure to subprime mortgages and other high-risk securities between 2006 and 2008. Citi denied the claims, but said it agreed to the settlement to "eliminate uncertainties". In August 2012, Citi struck a $590m settlement with shareholders. Bondholders claimed that Citi not only misrepresented its exposure to mortgage-backed assets, but also understated losses on loans. But the bank said in a st
  4. Recently the charity I work for lost their Investors in people status, are we (the ground floor staff), entitled to see the report and the reasons why we lost it?
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