Conservative heavyweight David Davis MP has called on the Serious Fraud Office to investigate the Arch Cru collapse, according to reports.
The chief executive of Arch Financial Products (AFP) has hit out at Capita after the board it appointed to administer the Arch Cru cells hit him with a £26.6m lawsuit.
The Financial Services Compensation Scheme (FSCS) is to levy financial advisers for an extra £38m as it begins making part-payments to Arch Cru investors with eligible claims against failed IFAs.
The FSA's director of supervision at its conduct business unit, Clive Adamson, told an investor in the Arch cru funds that complaining to their IFA was the "best course of action" in order to get some form of redress, as the scandal broke in 2009.
Advisers are beginning to assess the impact of how the latest Financial Services Compensation Scheme (FSCS) levy will impact their business.
Collegiate Underwriting has announced a professional indemnity insurance (PII) deal for IFAs, which freezes rates for two years.
Industry veteran Ken Davy has demanded answers from the Financial Services Authority (FSA) on why it did not disclose the fact it had ordered changes to Arch Cru marketing materials before the collapse of the investment scheme.