FSA presses court for 'urgent' decision on Arch Cru IFA judicial review

Six IFAs, who all recommended clients to invest in the funds, are backing a request made in September in the name of IFA Coull Money asking for a judicial review of the FSA-brokered deal which has contributions by Capita, HSBC and BNY Mellon. The group argues the scheme, which caps the three companies' contribution at about 34% of investors' capital and restricts claims at the Financial Ombudsman Scheme against them to the same amount, leaves IFAs exposed to compensation claims for the outstanding amount. No decision to grant the review has yet been reached by the Administrative Court...