Firms who advised on investments in the failed CF Arch Cru Investment and Diversified funds have been contacting clients asking them if they want a review of the advice ahead of yesterday's deadline to identify investors eligible for redress.
Under the redress scheme created by the Financial Services Authority (FSA), and now being taken over by the Financial Conduct Authority (FCA), advisers must have contacted all their Arch Cru clients by the 29 April asking if they want their case reviewed to determine whether they were mis-sold the funds. If clients who invested in Arch Cru opt for a case review, and the advice is found to be unsuitable, firms must put them back into the position they would have been in had they received suitable advice. The redress scheme was launched after the regulator concluded there was evidence o...
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