Advisers face £38m levy as FSCS ups Arch Cru payouts

The FSCS today outlined its long-awaited approach for compensating investors, but it said it now expects to pay more compensation than it initially anticipated, resulting in the extra levy. It said it had sought external expert advice on the residual value of the CF Arch Cru funds but that, due to the nature of the underlying assets, there was uncertainty about how much investors would get back through the wind-down process. As a result, it said it would begin making interim payments now based on the most recently published net asset value for the relevant sub-fund, plus a premium of ...