Arch cru

The estimated value of the remaining assets within the Arch Cru funds has fallen again, reducing the amount of returns to investors being offered by Capita Financial Managers, the authorised corporate director.

The High Court has rejected a bid for a judicial review into the £54m redress scheme brokered by the Financial Services Authority (FSA) offered by Capita and other businesses to Arch Cru investors.

CONDENSED

A Conservative peer has drawn parallels between the collapse of Arch Cru and the Bernie Madoff scandal, stressing the need for the regulator to do more to protect consumers.

The Association of Independent Financial Advisers (AIFA) is urging members to challenge the Financial Services Authority (FSA) over proposals to force advisers to compensate clients invested in Arch Cru.

Robin Farrell, the chief executive of Arch Financial Products, has formally launched a defence against claims he made secret profits amid the Arch Cru funds collapse.

Financial advisers are being urged to join a newly-formed Arch Cru pressure group to fight against the Financial Services Authority's (FSA's) controversial redress proposals.

A lawyer representing advisers potentially caught up by the Arch Cru redress scheme has hit out at the Financial Services Authority (FSA) for its attitude towards small firms.

FSCS FUNDING

Conservative big-hitter David Davis MP has given a cautious welcome to the Financial Services Authority's (FSA's) Arch Cru redress scheme, although he has warned it may be harsh on financial advisers.