Mark Hoban, the financial secretary to the Treasury, has backed Capita's Arch cru payment scheme and told investors they should go after their independent fnancial advisers (IFA) for compensation.
The minister represented the Treasury during a Westminster Hall debate on the Arch Cru compensation scheme this morning, discussing the deal currently on offer to investors. He repeatedly said they were "free to challenge their IFA to see if their advice was appropriate" and explained how they could go to the Financial Ombudsman Service if they are not satisified by the response. "If a complaint has been upheld but the adviser is no longer in business they can apply to the FSCS for compensation," he added. Throughout the 90 minute debate, a number of MPs highlighted cases involving...
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