The ombudsman maintained he did not think the level of risk the offshore bond posed was right for the clients and upheld the adjudicator’s decision to order compensation.
In addition, he ordered Coutts to pay 8 per cent simple interest per year on any loss from the end date of the investment to the date of settlement in 2012.
The ombudsman also advised the clients to seek legal advice before accepting the offer, in case the compensation amount exceeded the £150,000 the Fos can legally award.
In this case more compensation could be recovered through the courts but only if no previous offer from the Fos has been accepted. The couple had until 6 November to decide.