N&P: Most Keydata victims 'have had compensation offers'

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Norwich & Peterborough Building Society (N&P) says all but a few of the 3,200 customers who it advised to invest in Keydata have been sent individual offers of compensation and many have already been paid.

The society says only a ‘very small number of complex cases' have yet to receive offers, reports the Daily Mail. N&P was fined in April for mis-selling the bonds through its branch network and it has apologised for the debacle. The redress it is offering, on the same terms to all Keydata customers, is calculated to return to savers their original capital, plus a small rate of interest. But many investors are dissatisfied as they want N&P to compensate them for distress and the legal costs incurred during their two-year fight, according to the Mail. Members are also angry they ha...

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