Arck: Yorkshire Bank agrees redress scheme with investors

The bank has written to investors to determine whether they qualify for what it is calling financial 'support' via the scheme. As reported by Professional Adviser in November, about 400 investors are bringing claims valued at about £23m against the bank for what they allege was its professional negligence for failing in its duty to protect their money. Arck used IFAs to market unregulated property development investments, offering high returns with no risk to capital, to approximately 700 investors between 2006 and 2011. It lost approximately £45m of investors' money, with investor...