FSA fines Sesame over Scarps complaints-handling failures

The UK's Financial Services Authority (FSA) has fined Oxford-based independent financial adviser network Sesame £330,000 for failing to treat its customers fairly in its handling of complaints concerning structured capital-at-risk products (Scarps).

The problems with Sesame's complaints-handling procedures were identified as part of the FSA's thematic review of Scarps during March and August 2004. The regulator found that Sesame incorrectly rejected complaints from around 350 customers, who had

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