All cases within the review will be subject to a thorough review by the Barclays Customer Review Team.
This is a team that has been carefully selected and is made up of experienced professionals, known as Customer Review Directors, all of whom are trained in the IRHP review process.
Each Customer Review Director will review, in detail, all the available and relevant documentation and materials relating to the original sale of the IRHP and assess the sale against the standards agreed with the FCA for the purposes of the review (‘point of sale review’).
Based upon all of this information, the Customer Review Director will make their ‘point of sale review’ decision:
For those customers who purchased a structured collar, this decision will be determining fair and reasonable redress (to the extent the customer has suffered a loss) taking into account all the relevant circumstances.
For all other customers who are part of the review and did not purchase a structured collar, this review decision will be whether the sale of the IRHP met the relevant regulatory standards agreed with the FCA for the purposes of the review, and, if it did not, what redress (to the extent the customer has suffered a loss) would be fair and reasonable taking into account all the relevant circumstances.
Each Customer Review Director’s decision will be subject to separate review by the Independent Reviewer .
If the review has concluded that no redress will be due, the customer will receive a letter informing them of this conclusion. This will mark the closure of the review for those customers.
Alternatively, if the review decision is that mis-selling has occurred and that redress is due, then the customer will progress to Step 4.