MP warns govt: probe FSA or face Arch cru II

The Dumfries and Galloway MP wrote to Chancellor George Osborne calling on the government to probe the FSA's role in the failure of the funds. But an investigation was ruled out earlier this month when the Leader of the House, George Young MP, refused a Commons debate into the issue. The decision will lead to "exactly the same thing" happening again, said Brown - effectively an Arch cru Mark II. About £400m was invested in the fund range from 2006 until March 2009 when the FSA forced its suspension, after it became clear Arch would not be able to meet the demand for redemptions fro...