On 16 June 2014, the FCA announced that it had fined Credit Suisse International and Yorkshire Building Society for unclear, unfair and misleading financial promotions of Credit Suisse’s Cliquet Product. Credit Suisse International had also failed to have a procedure in place for a complete review of long running promotions from time to time. Yorkshire Building Society was a distributor of the product.
The announcement is available at: http://www.fca.org.uk/news/fca-fines-credit- suisse-and-yorkshire-building-society-for-financial-promotions-failures.
