Ombudsman rejects Meteor structured product complaint

Graham Devile, Meteor Asset Management

A UK financial ombudsman has refused to uphold a complaint that could have opened the floodgates for thousands of pounds worth of mis-selling claims relating to Lehman Brothers-backed structured products.

After more than three years of investigations by the Financial Ombudsman Service, ombudsman Caroline Mitchell concluded that a couple trying to claw back the £165,000 they lost on a structured product when Lehman collapsed are not entitled to a claim because UK distributor Meteor Asset

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