MP David Davis demands answers from FSA on Arch Cru

Davis, a leading Tory MP, is concerned the level of compensation was decided not on grounds of fairness, but on Capita's ability to pay, according to the Daily Mail. The Arch Cru funds were suspended in 2009 amid allegations of widespread mispricing and that fund manager Arch had invested in inappropriate assets. As authorised corporate director to the Arch Cru funds, Capita's duty was to safeguard investors' assets and ensure their money was invested according to the rules. Investors argue it failed to carry out those responsibilities effectively. Banking giants HSBC and BNY Mello...