Credit Suisse and YBS fined for misleading ads

According to a statement from the FCA, CSI was fined £2,398,100 and YBS was fined £1,429,000 for marketing the potential maximum return on the product as a key promotional feature, when in fact the probability of achieving the maximum return was, according to the FCA, “close to 0 per cent”.

In the statement, the FCA said the product had been sold to 83,777 investors, who invested more than £797m in the product, which was largely distributed through YBS.

Article continues after advert