Towergate planning for up to £85m mis-selling bill for financial division
Potential payments relates to past advice given to customers on ETV and UCIS.
Towergate expects to pay in the region of £65m to £85m in potential redress costs in relation to past advice it gave to customers regarding enhanced transfer values (ETV) and unregulated collective investment schemes (UCIS).
The issue first came to light in a bondholder report last year and the firm is in continuing discussions with the Financial Conduct Authority (FCA) on these matters while independent file reviews for both investigations are ongoing.
Discussions with customers will be a key
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