Norwich and Peterborough loses Financial Ombudsman Service appeal against Keydata ruling The Financial Services Ombudsman has upheld an earlier adjudication which found an N customer was mis louis vuitton agenda 2013 diary sold an investment in Keydata Financial Services.
This is the first case to be formally concluded following the appeal process. About 3,200 N customers made similar investments in Keydata, which has been placed into administration and is being investigated by the Serious Fraud Office. Following the ruling by the Financial Ombudsman Service (FOS), N spokesman Alison Rolls said that she was aware of 66 customers who were currently going through the FOS process. But Gareth Fatchett, partner at law firm Regulatory Legal, said his firm alone had lodged louis vuitton alma terre d&ombre 370 claims, totalling more than 10m. The building society had appealed on the basis that the FOS assessment of Keydata as a high risk product was incorrect. FOS has now rejected that argument. Mr Fatchett said: "The fundamental suitability argument by N has been rejected. As all our clients received advice based on the same system and the same research they should all win. N have a choice and can bring louis vuitton alma epi colors this matter to a close. They know elderly people are suffering hardship and have it within their gift to agree compensation." Mrs Rolls said the building society was unlikely to appeal on the same basis again but would not rule out the possibility that there may be further appeals. But she said: "It is not our intention to drag this process out.
We are working hard to find louis vuitton artsy gm dimensions a solution for all our customers, not just those who have complained." The Financial Services Compensation Scheme has begun paying out to many investors. However, some have chosen to pursue complaints against the N instead.
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