The Financial Ombudsman (FOS) has agreed to defer by three months its decisions on complaints relating to Lehman Brothers-backed structured products.
A request was made by the FSA which says it needs more time to assess the potential detriment Lehman's collapse has caused for UK investors and its 'wider implications' for the structured products market. The regulator originally committed to updating the FOS three months into its review, at which point the Ombudsman was expected to press ahead with its considerations of relevant complaints, but the FOS has agreed to the delay. In the aftermath of Lehman's default in September 2008, the FSA began conducting a wide-ranging review of the UK structured products arena. At the same tim...
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