E
Elphaba
Guest
Great news for some investors who complained to Financial Services Ombudsman. Some brokers have reimbursed investors who lost all their money in cases where product was deemed unsuitable ( ref:Kathleen Barrington 27th April business news) Where does this leave the credit unions? An entirely unsuitable high risk investment for them; bonds issued by an unregulated financial institution (ISTC) and packaged as a life insurance product by Friends First. The level of risk of the investment was clearly unidentified and it is good to see brokers accepting some responsibility.
I think brokers were dangerously complacent in the boom times, Perhaps they will now be a bit more careful with how they invest institutional money, I'm no expert, but I would have stayed well clear of these financial bonds...
I think brokers were dangerously complacent in the boom times, Perhaps they will now be a bit more careful with how they invest institutional money, I'm no expert, but I would have stayed well clear of these financial bonds...