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09.12.2019 / yourmoney.com

Your Money - 09.12.2019

More than £4bn still owed to UK investors who have money in Swiss banks

UK investors are running out of time to reclaim a share of £4.6bn in commission fees applied by Swiss financial providers. Anyone who invested money in a Swiss institution in the past 10 years may be able to reclaim commission fees.

These fees, called ‘retrocessions’ were applied by third parties and passed to Swiss banks and asset managers when investment funds and structured products were sold.

They typically accounted for 2% of the investment amount. A Supreme Court ruling in 2012 made these fees illegal, but due to Swiss legislation, claims can only go back 10 years.

 

To read the entire article about retrocessions click on this link.