Arch Financial Products says it asked the FSA to restrict its ability to manage investments, including the suspended Arch cru range, in a bid to reassure IFAs and investors.
The FSA register shows the company now needs written permission from the regulator to provide investment advice and transactions, or act as an investment agent. But Arch managing partner Robin Farrell says this will enable the group to focus on finding a solution to the suspension of the cru fund range and shows the process is under regulatory scrutiny. He adds: "Following a request from Arch, the FSA has temporarily restricted the firm's permissions to carry out certain regulated activities. "This includes advising on investments, arranging deals in investments, dealing in investments ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
