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Investments Important Information

for our Portfolio Investments, Structured Investments, Investment Bond and Premium Investments Customers.

Following work undertaken by our regulator the Financial Conduct Authority (FCA), Santander has agreed to undertake a customer contact exercise, writing to all customers in the review period who received advice and invested in the following products:

  • Portfolio Investments, Structured Investments and Investment Bonds in the period 1 January 2010 to 31 December 2012; and

  • Premium Investments in the period 1 April 2004 to 31 December 2012 and remain invested.

In order to demonstrate its commitment to ensuring fair outcomes for customers, Santander has agreed to contact all customers who invested during these periods. Depending on the type of investment customers may receive an Offer from Santander.

Further information will be provided when we write to all affected customers so you don't need to do anything until you hear from us.

We will contact you with a letter that will include details specific to you and your investment. The process for responding to an Offer will be straightforward and free if you respond to us directly. Each case will be assessed in exactly the same way and you won't be disadvantaged by coming direct to us.

In addition to the customer contact exercise, we are in the process of designing and implementing a new annual review process for all current Premium Investments customers, irrespective of when they invested. We will contact relevant customers to arrange these.

We will also be conducting a review exercise for both past and current Premium Investments customers in relation to services promoted and charged for that differed from the services customers received. Again we will be writing to all affected customers so you don't need to do anything until you hear from us.

These exercises will be conducted under the scrutiny of an independent reviewer approved by the FCA.

Important: If you decide to continue with your investment following this exercise, you will still have the right to complain in the future about our advice or the sale of your investment, if the need arises.

There is no need to use a Claims Management Company (CMC). If you choose to use a CMC, they may charge you a fee in order to handle your case. Santander will not cover any charges you may incur as a result of instructing a CMC to act on your behalf.

Further details of the FCA findings are available: Santander FCA Final Notice.

These problems gave rise to a risk of customers being recommended, making and remaining in investments that were not suitable for them.

Santander has agreed with the FCA to undertake a customer contact exercise, writing to all customers who made investments in the following products:

  • Portfolio Investments, Structured Investments and Investment Bonds in the period 1 January 2010 to 31 December 2012. The impact on these customers to date may be low due to the general stock market performance over this period. However as there is potential for this to change in the future, we have agreed with the FCA to conduct a customer contact exercise in relation to the investment advice provided to our customers during this period.

  • Premium Investments in the period 1 April 2004 to 31 December 2012 and remain invested. We will be undertaking the same customer contact exercise for these customers. In addition we are in the process of designing and implementing a new annual review process for all current Premium Investments customers irrespective of when they invested. We will also be conducting a review exercise for both past and current Premium Investments customers in relation to services promoted and charged for that differed from the services customers received. 

The contact exercise will be carried out under the scrutiny of an independent reviewer approved by the FCA.

We will be writing to all affected customers so you don't need to do anything until you hear from us.

The Financial Conduct Authority (FCA) found that there were problems with Santander's processes for ensuring that customers received suitable advice and in relation to Premium Investments, for ensuring that regular reviews were carried out to check that investments continued to meet customers' needs and that the services promised to customers were provided.

We will be writing to all affected customers so you don't need to do anything until you hear from us.

If you have any queries about your current investment, please refer to your last Investment Statement. We recommend you wait to receive your letter as it will include details specific to you and what options you have. If you need to contact us with any queries or concerns please use the contact details below;

By Email
investmentscontact@santander.co.uk

By Telephone
You can call us directly on 0800 756 7547 (8am - 8pm Monday to Friday and 8am - 4pm on Saturdays). Calls may be recorded and/or monitored for training purposes. Calls from UK landlines are free. Mobile charges may vary.

By Post
Investments Customer Response Team
Santander UK
Bridle Road
Bootle
Merseyside
L30 4GB


To help us manage your query as quickly and efficiently as possible please provide details of your investment account numbers (however for security reasons please do not include this detail if you choose to email us).

Frequently asked questions

  • We will be writing to all affected customers so you don't need to do anything until you hear from us. As part of the customer contact exercise we will be writing to all customers in the review period who received advice and invested in the following products:

    • Portfolio Investments, Structured Investments and Investment Bonds in the period 1 January 2010 to 31 December 2012; and

    • Premium Investments in the period 1 April 2004 to 31 December 2012 and remain invested.

  • The customer contact exercise will only apply to customers who made investments into Portfolio Investments, Structured Investments or Investment Bonds between 1 January 2010 and 31 December 2012. If you have any other investments or invested prior to these dates then these investments are not affected.

  • The customer contact exercise will only apply to customers who made investments into Premium Investments between 1 April 2004 and 31 December 2012 and remain invested. If you have any other investments then those are not affected.

  • If you invested in Portfolio Investments, Structured Investments or Investment Bonds between 1 January 2010 and 31 December 2012, but have since surrendered your investments, then you will be included in the customer contact exercise. If you invested in Premium Investments between 1 April 2004 and 31 December 2012, but have since surrendered your investments, then you will not be included in the customer contact exercise. However, we will also be conducting a review exercise for both past and current Premium Investments customers in relation to services promoted and charged for that differed from the services customers received.

  • If you have any queries about your current investment, please refer to your last Investment Statement. This will have included the value of your investments as at the date of statement. We will be writing to all affected customers so you don't need to do anything until you hear from us.

  • For customers who have invested since January 2010, customer detriment may be low due to increases in the value of most stock markets during this period. However as there is potential for this to change in the future, we have agreed with the Financial Conduct Authority (FCA) to conduct a customer contact exercise in relation to the investment advice provided to our customers.

  • When we contact customers the process for withdrawing or having a sale reviewed will be straightforward and free if you respond to us directly. Each case will be assessed in exactly the same way and you won't be disadvantaged by coming directly to us.

     

    You will still have the right to complain in the future about our advice or the sale of your investment, if the need arises.

     

    Therefore, you do not need to use a Claims Management Company (CMC). If you choose to use a CMC, they may charge you a fee in order to handle your case. Santander will not cover any charges you may incur as a result of instructing a CMC to act on your behalf.

  • You will still be included in the customer contact exercise, but any previous complaints decisions will be taken into account. If you have made a complaint to us that we are still investigating then we will continue to deal with it through our complaints process.

  • We will be writing to all affected customers, so you don't need to do anything until you hear from us. We recommend you wait to receive your letter as it will include details specific to you and the options you have.

Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England and Wales. www.santander.co.uk. Telephone 0800 389 7000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 106054. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768. Santander and the flame logo are registered trademarks.