Sell (something) to a customer on the basis of misleading advice.
a further review of product and commission disclosure is possible if mis-selling in the life assurance industry continues
with two objectsthousands of people have been mis-sold personal pensions
Example sentencesExamples
However, policies are regularly mis-sold to borrowers who are not eligible to claim because they are self-employed or on short-term contracts.
If you had bought an investment product and believe it was mis-sold to you, check with your broker to ensure that the correct advice was given.
Many members without guaranteed pensions have long argued that they were mis-sold policies because they were never informed that they were technically second-class members.
A Treasury Select Committee Report suggests as much as 60% of endowment policies may have been mis-sold.
Savers are paying up to £113m in commission every year to advisers who mis-sold their endowment policies.
He believes he was mis-sold his policy, which is now also facing a shortfall of up to £6,000.
The black cloud doesn't disappear completely, as there is still the threat of litigation from those who have left and believe they were mis-sold.
Obviously not all of these policies were mis-sold but the Consumer Panel of the Financial Services Authority estimates that about half of them might have been.
The Financial Services Authority, Britain's markets regulator, has cautioned banks about mis-selling products.
On this basis, which is a similar one to the endowment mis-selling case, I believe that my company pension and AVC plan were mis-sold to me.
Financial consultants who mis-sell high-risk schemes do so because they are paid huge commissions by the fund management companies.
Ultimately, it will benefit the industry too, as better regulation will reduce the massive bills it would eventually face for mis-selling products.
In the ombudsman's view, for example, anyone sold an endowment policy shortly before retirement was probably mis-sold and should be compensated.
We would need perhaps 100 or so experienced cynics who can spot mis-selling a mile away.
What evidence is required to substantiate a claim that an endowment policy was mis-sold?
However, thanks to dubious sales techniques, it is widely mis-sold.
The regulator must prove not that some people were mis-sold endowments, but that the insurer did not implement and follow proper compliance procedures.
Should I pursue a claim for mis-selling against the lender, the person who advised me, or the insurance company?
Just because you can afford to pay off the shortfall doesn't mean that the policy wasn't mis-sold in the first place.
The policy change will not affect those customers who complain that they were mis-sold their mortgage endowment policy.