Lawyers representing Arch Financial Products (AFP) chief executive Robin Farrell and former compliance manager Robert Addison have cited the pair's possible inexperience in running a fast-growing organisation - not a lack of integrity - for some of the problems the regulator uncovered during its investigation into the firm in 2012.
Farrell and Addison strongly deny acting "without integrity" when managing the Arch Cru fund range, as their appeal of a Financial Services Authority (FSA) ban and fine began in the Upper Tribunal on Thursday....
Bought plans in 1988 and 1989
To be added to model portfolio service
Launched 25 September