View more on these topics

FSA defers Ombudsman decision on Lehman-backed structured products

The Ombudsman has agreed to defer its consideration of complaints relating to Lehmans-backed structured products by a further three months, following a request from the FSA.

The regulator had committed to updating the Ombudsman three months into its review of the products and says although it has completed several elements of its work the delay will allow it to explore all options to achieve the best outcome for consumers.

In May, the FSA and Ombudsman agreed that the issues relating to Lehmans-backed structured products should be considered under the “wider Implications” process.

The FSA has been conducting a review of the marketing literature for Lehman-backed structured products and is in the process of evaluating the findings.

It says a further priority is to prepare for an assessment of the quality of advice for these products and that an analysis of the wider market for structured products in the UK will feed into the overall review.

Recommended

Europa and the bull

We are only halfway through 2009 and what a year it is proving to be. No sooner had investors dusted themselves off after one of the worst-ever starts for European equities than they were riding the wave of one of the strongest-ever post-bear-market rallies.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. It’s a disgrace
    Nearly a year on and the FSA can not make a decision.

Leave a comment