An elderly couple caught up in the Keydata collapse have become the first Norwich and Peterborough (N&P) customers to successfully claim the building society mis-sold products, exposing them to "inappropriate risk".
A ruling from the Financial Ombudsman Service (FOS) recommends N&P repays the couple's £28,000 investment plus interest, because flaws in the building society's advice "exposed their capital to an inappropriate level of risk", the Eastern Daily Press reports. The FOS' provisional judgement - the first of its kind in this case and still open to an appeal from the building society - states: "I do not believe that [the customers] would have invested in this product had they been fully aware of the risks." It adds: "Bearing in mind they were both retired and there is no evidence of...
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