A large Manchester law firm is seeking to bring professional negligence claims against IFAs who invested clients in the Arch cru fund range, following Treasury Secretary Mark Hoban's refusal yesterday to launch a government inquiry into Capita's role.
Pannone, which has worked on negligence claims related to Keydata and the Icelandic banking crisis, said the six IFA businesses on its radar include networks and nationals as well as smaller firms, and it expects this number to grow to the hundreds. Julia Norris, senior associate at Pannone, said the firm had already been approached by investors concerned about the advice they had received, but had told them to wait to see the outcome of yesterday's debate. Hoban's dismissal of further action or inquiry into Capita's role as authorised corporate director of the fund range left investo...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes