FOS has recently published two provisional decisions on cases concerning the sale of interest rate swaps to non-sophisticated small businesses. The decisions determine whether there was advice and whether any advice was suitable, and whether the information provided was clear, fair and not misleading. Although FOS observes that not even financial circles could have predicted the fall in interest rates, it also said the swaps were a “poor fit” and the banks had not highlighted adequately the cancellation charges. Following the entry into force of the changes the FS Bill will make, FOS will start publishing the ombudsmen’s final formal decisions. (Source: Provisional Decision W Family and Provisional Decision Business H)