As a tax payer I am furious following my reading of this article http://www.moneymarketing.co.uk/mortgages/rbs-sets-aside-435m-for-misselling-claims-and-tech-failure/1055754.article Every time RBS is fined it means that there will be less profits to pay back the Treasury. If a business cannot understand the concepts of an interest rate swap and the risks involved in an interest rate swap, they should not be in business! I would expect any board of directors with a financial person with a Chartered qualification from one of the Accountancy bodies to understand these concepts. As I am sure every IFA in London states to their client, if you do not understand it, do not proceed with it. What a pity it is going to be at the taxpayer’s expense.rnrnThis information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action.rn
