FOS backs advisers in trio of structured product counterparty claims

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The Financial Ombudsman Service (FOS) has ruled advisers could not reasonably have known Lehman Brothers was in financial turmoil when they recommended clients invest in structured products to which it was counterparty, in a trio of rulings.

In separate claims handled by the ombudsman against national adviser Chase de Vere, RSM Tenon - now Baker Tilly Financial Management - and Newcastle-based Professional Wealth Management, it ruled the firms...

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