FSA fines Capita Trust Company for mis-selling
The UK Financial Services Authority (FSA) last month fined Capita Trust Company £300,000 for mis-selling precipice bonds. The company, formerly known as Royal & Sun Alliance Trust Company, advised approximately 500 customers to invest in a variety of precipice bonds between June 1997 and September 2002. These customers later suffered losses of around £3.5 million.
The FSA says the company has co-operated fully. “Were it not for the level of co-operation shown by the firm the financial penalty
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