Coutts fined £6.3m for failings relating to its sale of an AIG fund
November 7, 2011
The FSA has fined Coutts Company ("Coutts") £6.3 million for failings in connection with the sale of the AIG Enhanced Variable Rate Fund.
Coutts has also agreed to carry out a past business review, overseen by an independent third party in relation to all customers who remained invested at 15 September 2008 and will compensate all customers who have suffered a loss as a result of its failings.