FSCS Arck adviser decision edges closer; fraudsters' sentencing delayed

A court hearing to decide the sentences of Arck directors and convicted fraudsters Richard Clay and Kathryn Clark was due to be held on 22 June, but that has not gone ahead, and could be delayed until 2016. However, the fate of advisers who recommended investors put money into Arck is edging closer to being decided, and will not be affected by the delay in the courts the FSCS said. The FSCS had previously said it was awaiting information from unnamed third parties - potentially the Serious Fraud Office (SFO) - to rule on whether it would assign liability for losses in Arck to advisers...