Banco Santander SA's British arm Probed Over Flawed Advice-Reuters

Wednesday, 13 Feb 2013 08:42am EST 

Reuters reported that Banco Santander SA's British arm is under investigation for possible investment advice failures and could face a fine or license changes that prevent it from offering such services in future, four industry sources said. The FSA declined to name the lender and Santander UK declined to comment on whether it was being investigated. The financial regulator said the probe, which followed spot checks during a review of the quality of advice available at six banks and building societies, would only have been ordered if the Company in question had a history of poor advice. 

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