Santander promises better service
Santander yesterday apologised for mistreating investment customers and said its service has been turned around since 2012. The Financial Conduct Authority fined the bank £12.4m after a mystery shopping exercise found a quarter of customers were given bad advice. The bank has since shut down its investment advice arm. “We regret elements of Santander UK’s historic branch-based investment sales processes did not meet the required regulatory standards and apologise to any customers who have concerns,” said UK boss Steve Pateman.