The Financial Services Authority (FSA) will face questions from Arch Cru investors at a hearing on Wednesday on the regulator's role in the downfall of the fund range - and the £54m redress deal - despite not being allowed at the meeting.
Tomorrow's hearing, which will be attended by representatives from the FSA, is for members only and is closed to the public and press. However MPs will come prepared with questions from investors based on responses received by law firm Regulatory Legal, which asked its 2,700 Arch Cru clients each to compile a list of what they want to know from Capita and the FSA. A total of 560 questions were received across two days, with 247 for Capita and 313 for the FSA. Capita has declined to send its representatives to the hearing. MPs called the meeting after intense pressure from constitue...
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