FOS orders bank to pay up for mis-selling AIG bond

A provisional decision published by the organisation, designed to show its general approach to this kind of case, explains why the complaint by Mr and Mrs V against Bank D was upheld. The clients were advised to invest in the AIG Life Premier Access Bond (PAB) Enhanced Variable Rate fund in early 2008, although, in the wake of the collapse of Lehman Brothers, it was suspended and, shortly afterwards, closed. The clients had withdrawn about £430,000 before the fund's suspension and, after opting to surrender their remaining investment, worth around £2.8m, received back around £1,375,00...