Zeros compensation call

The Parliamentary Select Committee looking into the collapse of the split-capital trust sector has called for the investment trust industry to compensate investors who lost money on zeros or related products. It also said there is little doubt there was some form of 'magic circle' of professionals who had colluded for their own gain at the expense of split-cap investors and pushed for 'very severe penalties' for individual firms or practitioners found guilty of significant misconduct. In the third report issued since hearings on the sector began in early 2002, the committee called for t...