Advisers to pay out £31.5m to compensate Arch Cru investors

The FCA said today that total redress due under the scheme is calculated to be £31.47m. In December 2012, it was estimated that the compensation package would deliver between £30m-£40m for affected investors. The compensation pay outs have already begun and so far more than £8.26m has been received by consumers, the Financial Conduct Authority (FCA) said. The money paid out under the scheme, which is overseen by the FCA, is in addition to any redress investors may have received under a separate process administered by Capita Financial Managers. Under the FCA's consumer redress sche...