About
The failure of the CF Arch Cru Investment Fund and the CF Arch Cru Diversified funds sent shock waves through the financial services sector. For advisers, the establishment by the FSA of a consumer redress scheme could see them facing large-scale claims over their recommendations to invest in the products, where this is deemed unsuitable.
News
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FSA bans Cru IM co-founder Danner but refuses fine
Danner’s “lack of integrity” confirmed by Upper Tribunal decision in June 2012, says regulator.
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Cardy: FSA Arch Cru revisions leave questions over PII
IFA Centre welcomes redress scheme revisions but expresses “serious concerns” over assumed health of PI market.
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FSA hints at further enforcement for Arch Cru parties
Regulator tells select committee chair final notice marks the end of Capita’s disciplinary action for its part in the Arch Cru debacle.
Analysis & Opinion
Challenges and pitfalls of redress schemes
In December 2012, the FSA published its policy statement PS 12/24 “Consumer redress scheme in respect of unsuitable advice to invest in Arch cru...
Capita off the hook, while advisers still to be squeezed
One rule for Capita and another for advisers after FSA fails to fine firm for Arch Cru failings.
IFAs finally fighting back over invidious Arch Cru scheme
Latest adviser redress bill almost twice the contribution from the companies caught in the Arch Cru scandal.
Recent Articles
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Capita and administrator renew Arch Cru blame game
Former Arch Cru administrator says it was not its duty to “ensure” its directors were aware of investment matters.
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Ex-Arch compliance head in counterclaim over Arch Cru losses
Former director’s defence includes claim that SPL was “contributorily negligent” in the way it realised investments.
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Adviser bodies slam FSA over Capita let-off
Regulator opted not to impose £4m fine for Arch Cru failings.
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FSA refuses to confirm Arch Cru £110m redress postponement
APPG confirms that it has heard “rumours” of a publication delay of the redress scheme.
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FSA slams Capita with public censure over Arch Cru failings
Regulator does not fine Arch Cru ACD as CFM could not fund a £32m contribution to the payment scheme as well as a financial penalty.