Revealed: The warning that sealed NDFA's fate

Laura Miller

Structured product provider NDFA was advised that both the courts and the Financial Services Authority would likely hold it liable for investors' losses due to "negligence and misrepresentation" in the marketing of its Lehman-backed plans, just weeks before it entered administration.

Documents seen by IFAonline reveal NDFA was told by its legal counsel in mid-September 2009 that the regulator would likely find marketing material for both its 'Capital At Risk' and 'Capital Secure' products...

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