FSCS to pursue precipice bonds providers for £30 million

“While we cannot comment on specific recovery actions we can confirm that we are pursuing recoveries in relation to compensation payments made for the mis-selling of precipice bonds,” a spokeswoman at FSCS told SP Extra. To date, FSCS has made compensation payments totalling in the region of £30 million in relation to precipice bonds.

Billions of pounds of precipice bonds were sold between January 1998 and June 2003 to retail investors in the UK and Europe. These bonds were equity-linked reverse

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