UK regulator to be scrutinised over swaps redress scheme

London

BRITAIN'S financial regulator will next week come under scrutiny from lawmakers debating whether thousands of small firms which were wrongly sold interest rate hedging products were treated fairly in a compensation scheme it set up.

The mis-selling is one of a number of scandals involving British banks in the past five years, ranging from the attempted manipulation of foreign exchange and benchmark interest rates to the mis-selling of loan insurance.