Firms fined over misleading product

Press Association
Britain Yorkshire Building Society
Britain Yorkshire Building Society

%VIRTUAL-SkimlinksPromo%Yorkshire Building Society and Credit Suisse have been fined a total of £3.8 million for misleading inexperienced customers over investments that had almost zero chance of achieving maximum returns.

The fines centred on a product called Cliquet designed by Credit Suisse International (CSI) and sold to nearly 84,000 customers who ploughed in £797 million.