In another example of the limitations of direct sales a company in the UK has been ordered to pay redress for misselling complex products. This statement is telling:
In a statement, First Direct told the newspaper: “We have carried out a review of the investments that some of our customers hold or have held on our self-select investment platforms and have found that some of them should not have been available.
“This is because they are defined as ‘complex’ and not appropriate for a self-select investment service without assessing a customer’s knowledge and experience for appropriateness. We are currently in touch with the customers affected and are working with them to ensure they will be compensated for any loss as appropriate.”