Thursday, 14 Feb 2013 15:37 GMT

Sign-makers offered hope on mis-selling

Sign-makers mis-sold swaps have been offered hope with the Federation of Small Businesses (FSB) unveiling a legal process which aims to deliver help and advice to those firms affected

The scheme follows the publication of the Financial Services Authority’s (FSA) pilot study showing that around 90 percent of firms had been mis-sold complex financial products.

The FSB is working with three companies to provide professional guidance and support through the process of accessing redress for its members. However the FSB will not be responsible for the legal process, the financial outcome, nor will it be directly involved in the litigation.

“We felt that it was important for the businesses that have been affected to be able to take appropriate and professional advice, to ensure they get the redress they deserve. They now have a choice of support to help them through this process,” says FSB national chairman, John Walker.