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By Frédéric GIELEN - Executive Partner, Financial Services, Reply
In early 2019, a survey of financial advisers had already revealed serious misgivings over the possible mis-selling of products marketed to investors as ‘ESG friendly’. 97 of every 100 financial advisors in the United Kingdom (UK) had declared themselves as either “very” or “fairly” concerned about the potential for allegations of mis-selling ESG investments, according to market research firm Cicero.
Many were already making obvious comparisons between the risk of ESG mis-selling and the infamous payment protection insurance (PPI) scandal in the UK.(1) Unfortunately, the PPI scandal is not an isolated exception; it is just one of many financial product mis-selling scandals that...
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