Banks still burdened by unsuitable advice provided 10 years ago

Lloyds Bank ordered to compensate investor for unsuitable advice relating to structured products Lloyds Bank has been ordered to pay compensation to a client who was 'wrongly advised' to invest £60,000 in a Guaranteed Investment Bond (GIB) in 2006 and a further £7,200 in a similar capital-protected product in 2008. The UK Ombudsman Tony Moss has confirmed its provisional decision on June 4 on the basis that the advice and recommendations by Lloyds Bank failed to provide diversity and the fact