Prime Minister David Cameron joined the fight to force the FSA to reveal what it knows about the failure of the Arch cru fund range, just days before today's announcement of a £54m compensation package for investors.
The PM promised to put "further pressure" on the regulator if it failed to report its findings to investors by June, in a signed letter to a constituent who is an Arch cru investor. Arch cru cells' assets, which have plummeted in value by around 40%, have been frozen since March 2009. The FSA had been investigating problems with the fund range and Capita, its authorised corporate director, since 2009 but told investors nothing about its findings, until today. One unhappy investor contacted the Prime Minister to ask him for his help in resolving the situation. In his response the PM...
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