Arch Cru IFAs told to ask PI insurers to give to Capita scheme

The Financial Services Authority has begun an investigation into firms which recommended CF Arch Cru funds to retail clients on an advised, discretionary or mixed basis between July 2006 to March 2009. Regulatory Legal, which acts for about 2,700 Arch investors and works with an action group of about 60 IFAs who recommended the fund range, has branded the FSA investigation "pre-determined" to find fault with any advice which did not class the investment as high risk. The law firm is advising IFAs to approach their PII underwriters and invite them to contribute money to the £54m paymen...