The Financial Services Compensation Scheme (FSCS) has informed Arch Cru investors that eligible claims for compensation "may exist" against some failed independent financial advisers (IFA).
In an update today, the FSCS said compensation for investors was a "step closer".
"[The] FSCS has found some failed IFAs may be liable for losses suffered by consumers where mis-selling can be shown to have occurred," it said.
"FSCS's work to value the assets of the firms continues, including how the scheme will calculate any compensation due to people.
Consumers will be updated in late March with more information about the application process for claims and how the FSCS will quantify them.
Arch Cru investors have already been offered a £54m compensation package by Capita, HSBC and BNY Mellon, brokered by the Financial Services Authority (FSA), although it will return less than 50% of their original investment.
Investors have also been able to pursue further claims through the Financial Ombudsman Service, which recently published details of an upheld complaint against an IFA.
Meanwhile, the FSA is currently investigating firms which recommended Arch Cru investments.
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