160 Million Compensation in 2011 - Advisers United

05/01/2012 - 160 Million Compensation in 2011

160 Million Compensation in 2011.

According to City law firm Freshfields Bruckhaus Deringer, firms regulated by the Financial Services Authority (FSA) paid out more than £160m in compensation last year. This has risen from £62.65m reported in 2010.

The figures show that an estimated £59m of compensation payments came from the FSA’s investigation of how Barclays sold funds labelled ‘balanced’ and ‘cautious’ to its retail clients.

HSBC had to pay £29.3m in compensation for mis-selling investment bonds to its elderly customers.

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