Skipton sets aside £9m to deal with investment advice problems

The firm said in its director's report and annual accounts dated 31 December 2012, that it was too early to determine the total cost arising from the review but the provision made in the statement represents "management's best estimate". The company said: "During 2012 the company began a review of its advisory processes. Initial enquiries have identified documentation issues in a number of cases and have indicated that these may result in some amounts being paid by the company." The net effect of the review on the company's comprehensive income was £1.3m, as the £9.1m put aside for co...