The UK Financial Services Authority (FSA) has reached an agreement with Barclays, HSBC, Lloyds and the Royal Bank of Scotland to provide appropriate redress where mis-selling has occurred. The regulator found serious failings in the sale of interest rate hedging products, including swaps and structured collars, to some small and medium sized businesses. Martin Wheatley (pictured), managing director of the conduct business unit at the FSA, said that the chief executives of the four banks stated