Lloyds faces £80m payout in structured products mis-selling case - report

More than 7,000 customers affected

clock • 2 min read

Lloyds Banking Group is preparing to compensate more than 7,000 customers who were mis-sold supposedly low-risk structured products, according to The Times.

The bank's trade union told the paper Lloyds is writing to 7,250 customers of the bank and investment arm Scottish Widows, who were mis-sold structured products.  These included the Acorn Market Linked Deposit Fund, marketed between 2008 and 2010 in the wake of the financial crisis, and Scottish Widows' Protected Capital Solutions Fund. In its letters, Lloyds says: "We have identified that we did not give you sufficient information to make an informed decision before you made your deposit." The Lloyds union estimates the compensation package for the Acorn fund at £66m, while Scotti...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Risk Warning Review plans aim to address 'negative framing' of investing

Risk Warning Review plans aim to address 'negative framing' of investing

Lowest investment rate in G7

Alex Sebastian
clock 09 April 2026 • 2 min read
Equity fund outflows hit £1.44bn during war-torn March

Equity fund outflows hit £1.44bn during war-torn March

Calastone Fund Flow index shows

Professional Adviser
clock 09 April 2026 • 2 min read
Quality investing: Holding conviction when markets test investors

Quality investing: Holding conviction when markets test investors

Quality investors have no doubt had their conviction 'severely tested' of late

Scott Spencer
clock 31 March 2026 • 5 min read