You work at the investment bank. 'You have been asked to pay a dividend to a client for a security you held. They were supposed to get $70, but they only got $20. He informed the customer that the settlements department is actively addressing the issue and provided the information as to why the issue occurred. He informs the customer that the settlements team is investigating the issue and assures him that he will be paid as soon as possible. The next day, the settlement team tells you that there was an error in the calculations and that this affected 20% of all clients that were due to receive this dividend payment. The closeouts team asks you how you would like to respond to the customer.Explain.

Answer rating: 100% (QA)

In this situation the first step would be to apologize to the customer for the error and provide an ... View the full answer