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Swap mis-selling: Welsh firms still failing despite compensation scheme

Welsh businesses are still failing six months after a scheme was set up to compensate them after they were mis-sold financial products, claims an MP.

Aberconwy Conservative MP Guto Bebb, who is leading a commons committee on the issue, said billions were being spent administering the scheme.

But he said the money was not getting through to businesses which had suffered huge losses.

The Financial Conduct Authority (FCA) said cases were being speeded up.

Financial journalist and presenter of BBC Radio 4's Money Box programme Paul Lewis, told BBC Radio Wales presenter Oliver Hides what the interest rate swap products were.

Firms still failing over 'swaps'

  • 24 Oct 2013