Collins Stewart: An apology

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The Independent Online

In a report in the Business section on 3 March (Investment trusts `magic circle' forced to pay compensation) we suggested that Collins Stewart had been presented with evidence by the Financial Services Authority showing Collins Stewart's involvement in the mis-selling of split-capital investment trusts. We also suggested that they had been forced to pay compensation by the FSA. We are happy to confirm that no such evidence has been presented to Collins Stewart and that the FSA has not forced them to pay compensation. We apologise to Collins Stewart for any embarrassment caused.

In a report in the Business section on 3 March (Investment trusts `magic circle' forced to pay compensation) we suggested that Collins Stewart had been presented with evidence by the Financial Services Authority showing Collins Stewart's involvement in the mis-selling of split-capital investment trusts. We also suggested that they had been forced to pay compensation by the FSA. We are happy to confirm that no such evidence has been presented to Collins Stewart and that the FSA has not forced them to pay compensation. We apologise to Collins Stewart for any embarrassment caused.

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