Yorkshire Bank threatens to chase advisers over Arck redress claims

In a letter sent to an IFA by the bank, seen by Professional Adviser, it states it will "seek contribution and/or indemnity" from him if a successful claim against it is made. Arck was an unregulated collective investment scheme (UCIS) that entered liquidation amid allegations of severe mismanagement in February 2012, losing around 700 investors approximately £45m. Former director of Arck, Kathryn Clark, pleaded guilty to forgery this month in relation to the scheme, but denied fraud, in a case brought by the Serious Fraud Office (SFO). Fellow director Richard Clay denied the same cha...