FSA: Arch cru losses may be no-one's fault

In a letter dated 5 October seen by IFAonline, the regulator attempts to explain its endorsement of the controversial £54m payment scheme set up by Arch cru authorised corporate director Capita Financial Management, and the fund ranges' depositories, BNY Mellon Trusts and Depositories and HSBC. Signed by Jon Gerty, solicitor for the regulator, the letter hints the FSA will be pursuing others - potentially IFAs - to provide redress beyond the 70% it has said the payment scheme will return to investors. But in another twist in the scandal of the suspended fund range which once boasted £...