FSA criticises consultant over 'independent' Arch Cru report

Danner was censured yesterday by the regulator for demonstrating "such a poorly directed ethical compass as to amount to a lack of integrity on his part", after appealing a decision to prevent him from advising on retail investment products. He failed to adequately manage the conflict of interest in being a director of SD Asset Management (SDAM), a small IFA firm based in Cardiff, while serving as one of the co-founders of Cru Investment Management which marketed the CF Arch Cru range of investment funds to IFAs. However, according to transcripts of Danner's hearing, the FSA also cast...