NORTH West businesses affected by the interest rate swap mis-selling scandal risk insolvency if they wait for the FSA Compensation Scheme, a top lawyer has warned. The FSA is set to provide guidance this week for its scheme that has been agreed with the main High Street banks to address the issue, after it found “serious failings” in the sale of interest rate swap products to SMEs.

It has been reported that some of the banks involved are asking small businesses to postpone legal action and wait for the FSA......for the full story register now for free or login below...