FSA fines Bank of Scotland £3.5m for complaint mishandling

The FSA has fined Bank of Scotland (BOS) £3.5m for the mishandling of complaints about retail investment products.

Between July 30, 2007, and October 31, 2009, BOS received 2,592 complaints about its sales of the collective investment plan, personal investment plan, guaranteed growth bond, ISA investor and guaranteed investment plan.

The regulator says BOS wrongly rejected a significant number of these complaints.