9th Jun 2014 06:41
LONDON (Alliance News) - Royal Bank of Scotland Group PLC's private banking arm, Coutts & Co, may have to pay compensation to thousands of customers for giving unsuitable investment advice, the Guardian reported Friday.
According the report, the private bank and wealth manager is reviewing customers files going back to 1967 and said that "if clients have suffered any financial detriment, they will be compensated in full."
Coutts said it has agreed with the Financial Conduct Authority to conduct a review of the suitability of advice given in the UK, according to the Guardian.
http://www.theguardian.com/business/2014/jun/06/coutts-compensation-unsuitable-investment-advice
By Samuel Agini; [email protected]; @samuelagini
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