Why do you need a Treasury Expert?
Why you need specialist treasury advice in swap mis-selling
We have the in-depth knowledge and experience of interest rate swaps as the expert team at Veritas Treasury. We make it easy for both the customer and the bank to reach settlement through our in-depth knowledge of the regulatory and compliance framework of the hedging market.
The banks seem keen that you should not need professional advice to pursue a swap mis-selling claim. We would argue that this is disingenuous, given that the reviews are being carried out by the banks who sold the products in the first place. The banks may be represented by lawyers and accountants, and in our experience their approach is designed to undermine the customer’s case. Our first-hand experience of the regulatory and compliance framework in the selling of swaps means that we understand how they could be mis-sold. We understand the treasury profession, and this insight allows us to pursue maximum redress for our clients.
The alternative to consulting a treasury specialist would be to seek legal advice. This has many disadvantages, not least that the lawyer will not have first hand experience with the IRHP sales process and will therefore not understand how they can be mis-sold to the same extent as a treasury expert. Not only this, but if you embark on the swap mis-selling review process with legal representation from the outset, this could create an adversarial situation between you and your bank. We are sensitive to your broader relationship with your bank and will handle negotiations accordingly. Where possible we will try to continue the banking relationship and secure a negotiated settlement that is acceptable to both parties without the need for litigation.
For business owners who have been excluded from the review, or where the FCA review is not successful or where the customer is not satisfied with the redress offer made, then the legal route might well be an option. However Veritas Treasury would always recommend that your first option should be non-litigious negotiation from experts who speak the same language as the banks.
Our approach focuses on compensation not litigation, to produce the best result for you without the added expense, stress and delay of the courts.
- Scott Cowan Director 07768 902 675 Email me