FSA warns over 24bn of risky investment products

RETAIL investors may have been sold up to &pound;24bn of structured investment products that were more risky than their sellers admitted, a probe by the City watchdog Financial Services Authority (FSA) found yesterday.<br /><br />The FSA said a review of these products, backed by now collapsed Lehman Brothers, found the sales advice was &ldquo;unsuitable&rdquo; or &ldquo;unclear&rdquo; in more than two-thirds of cases.<br /><br />The watchdog said it found that up to &pound;110m had been invested in these products by around 5,600 UK retail investors. <br /><br />But if a review now under way by the FSA into non-Lehman backed products finds similar levels of unsuitable advice, holders of products worth about &pound;24bn may be at risk.