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 (