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.
Danner’s “lack of integrity” confirmed by Upper Tribunal decision in June 2012, says regulator.
IFA Centre welcomes redress scheme revisions but expresses “serious concerns” over assumed health of PI market.
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
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...
One rule for Capita and another for advisers after FSA fails to fine firm for Arch Cru failings.
Latest adviser redress bill almost twice the contribution from the companies caught in the Arch Cru scandal.
Former Arch Cru administrator says it was not its duty to “ensure” its directors were aware of investment matters.
Former director’s defence includes claim that SPL was “contributorily negligent” in the way it realised investments.
Regulator opted not to impose £4m fine for Arch Cru failings.
APPG confirms that it has heard “rumours” of a publication delay of the redress scheme.
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.