One of the lead cases brought by Arch cru investors against Capita has been put on hold by FOS pending a decision on whether the ombudsman is the appropriate body to deal with the complaint.
Investors argue Capita allowed Arch cru to make high-risk investments despite the funds being marketed as low risk, and failed in its duty as authorised corporate director to prevent the fund being mispriced. A FOS adjudicator stated ongoing investor detriment reviews by Capita and the FSA into the debacle should deal with the role of Capita and whether any mis-management caused consumer detriment, IFAonline understands. The case is one of several that law firm Regulatory Legal, which acts on behalf of 2,500 Arch cru investors, has agreed with Capita's lawyers to use as representativ...
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