FOS tells Coutts to compensate couple over offshore bond advice

According to the FOS decision, on Coutts' recommendation the couple - identified only as 'Mr and Mrs M' by the Ombudsman - invested £750,000 in an offshore DIMA portfolio (a Coutts discretionary investment management service, which was held in a CMI Global Investment Offshore bond) in 2005, with a further £150,000 top-up in 2007. In 2008, again on Coutts' recommendation, the couple transferred £150,000 from the DIMA portfolio into the Novus Natural Resources fund. The FOS decided Coutts should compensate the couple to put them as close to where they would have been had they been not b...