News Column

PRESS: Coutts May Have To Pay Compensation For Poor Advice - Guardian

June 8, 2014

Samuel Agini

LONDON (Alliance News) - Royal Bank of Scotland Group PLC's private banking arm, Coutts & Co, may have to pay compensation to thousands of customers for giving unsuitable investment advice, the Guardian reported Friday.

According the report, the private bank and wealth manager is reviewing customers files going back to 1967 and said that "if clients have suffered any financial detriment, they will be compensated in full."

Coutts said it has agreed with the Financial Conduct Authority to conduct a review of the suitability of advice given in the UK, according to the Guardian.

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Source: Alliance News

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