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More misselling claims on the way City law firm warns

The industry could face another raft of misselling claims when the next wave of structured products mature this month despite the rallying markets, City law firm Reynolds Porter Chamberlain has warned.

RPC points out that Scottish Life International, Scottish Mutual and Pinnacle Insurance are all among those which have stock-market linked so-called precipice bonds maturing this month.

According to investment IFA Chartwell Investment Management, investors in SLI&#39s Income & Growth Bonus Bond 2 will only get back their original capital if the Eurostoxx 50 rises 114 per cent by August 11.

RPC financial services team partner Jonathan Davies says: “With the increase in the number of headline-hitting misselling claims over the past year or so, we expect to see more investors who think they deserve compensation for lost capital taking this route, whether they actually have a reasonable claim or not.”

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