Exclusive: UK Financial Ombudsman Rules Against Saxo in SNB Dispute

[kreslik.news]

The Financial Ombudsman Service (FOS), the UK’s official body to settle disputes problems between consumers and UK-based businesses providing financial services, has ordered Saxo Capital Markets UK Limited (SCML) to pay out compensation exceeding £150,000 in the latest lawsuits stemming from January’s exchange-rate turmoil.


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The client claimed Saxo wrongfully deducted funds from his account after the price revisions, which didn’t reflect market rates. He was asking the commission to declare that Saxo shouldn’t have retroactively repriced the trades. He is also seeking damages for the alleged ... (read more)