The curious case of Capita and the 27 fined firms

The FSA has yet to publish its review into the role of Capita, the authorised corporate director (ACD) of the funds, in the Arch cru debacle. But Capita has refused to accept any liability - and has already said no financial penalty will be imposed on it by the FSA. Arch cru investors who argue the recently announced £54m payment package will return just 50% of their original investment, plan to challenge the FSA's view that the deal it brokered is the best outcome possible. They say Capita failed in its role as ACD to take reasonable care to organise and control its affairs respon...