Mark Hoban, the financial secretary to the Treasury, has batted away official questions from a fellow MP about the collapse of the Arch cru funds.
Therese Coffey, the Conservative MP for Suffolk Coastal, made a written submission to Chancellor George Osborne to ask what recent discussions he has had with the FSA about the collapse. The CF Arch cru fund range was suspended in March 2009 due to a lack of liquidity to deal with redemptions. Since then thousands of investors have been unable to access their funds. Official records show Hoban, who replied this week on Osborne's behalf, side-stepped the question of when Arch cru had last been brought to ministers attention. "It is not the government's practice to provide details ...
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