FSA on look-out for Arch Cru redress dodgers

The scheme, announced today, is expected to see firms forced to pay around £110m to investors who were mis-sold the Arch Cru funds between 2006 and 2009. While 30% of the firms affected are expected to fail as a result of having to pay the compensation, the regulator is also concerned others may pull the trigger themselves to avoid the costs. Clive Adamson, the FSA's director of conduct supervision, said: "We want to be careful that firms don't put themselves out of business to avoid the schemes." The FSA said it had written to firms asking them to effectively ring-fence funds for ...