In the Media

Lawyer's bank warning ?ignored?

PUBLISHED July 9, 2013

Monday 08 July 2013

Lawyers at the Financial Services Authority ignored a finance lawyer's written warnings over the alleged inappropriate sale of derivatives products to small and medium-sized businesses two years before accusations of widespread mis-selling amounting to billions were made public, a Gazette roundtable was told this week.

Stuart Brothers, founder of SRB Legal, said that he wrote to the FSA's leadership in March 2010, with clear evidence, including transcripts of phone calls, that demonstrated what he considered mis-selling. 'I was staggered, quite frankly, by the lack of interest they showed,' Brothers said.