Prime minister David Cameron will today be forced to answer calls for a government inquiry into the failure of Arch Cru and the fairness of the redress scheme set up to compensate investors.
The question is scheduled to be posed during Prime Minister's Question Time today at noon by backbench MP Tom Greatrex. An investigation would look at how the Financial Services Authority (FSA) regulated the fund, as well as the roles of Capita, authorised corporate director of the fund, the two trustees, HSBC and BNY Mellon, and potentially distributors. Greatrex is part of an inner core of MPs who have been campaigning on behalf of constituents who invested and advised on Arch Cru. They want the Treasury to launch a Section 14 inquiry into failings at the fund, which led to its susp...
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