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Barclays ordered to pay up to £60m compensation bill

Thousands of people investing their retirement savings were given poor advice by Barclays, which must now pay millions of pounds in compensation.

The bank has been fined £7.7m by the Financial Services Authority and will pay up to £60m compensation to customers of two investment funds.

One in seven of the 12,000 investors complained about the advice received from July 2006 to November 2008.

The BBC's Simon Gompertz reports.

  • 18 Jan 2011