Arch cru

Arch Financial Products chief executive Robin Farrell has been denied the right to appeal a High Court judge's ruling that he is guilty of dishonesty and his firm of negligence in the management of the failed Arch cru fund range.

Poor advice claims that have cost restricted national adviser Origen at least £3m in reviews and redress - and pushed it further into the red this year - are the fault of advisers who have exited the firm, not the current team, business development director...

A retiree who asked his adviser to review a recommendation to invest in Arch cru under a consumer redress scheme set up by the financial regulator has won compensation after taking his case to the Ombudsman (FOS).

The Channel Island Stock Exchange (CISX) has been fined £190,000 by its regulator for being "seriously at fault" in relation to possible "irregular trading" of the Arch Cru funds.

Capita's administration arm has written to a number of Arch Cru investors asking them to return money from the redress scheme, after the payouts breached tax rules.

The Whitechurch Network spent more than £704,000 in 2013 settling claims related to advice given by its appointed representatives on Keydata and Arch Cru.

Investors in the failed Arch Cru fund range have so far received £11.8m in redress as a result of the Financial Conduct Authority's (FCA) industry-wide review into the debacle.

National IFA Chase de Vere managed to claw its way back towards the black last year, but has been forced to set aside millions to deal with complaints from unhappy clients.

Lawyers representing Arch Financial Products (AFP) directors Robin Farrell and Robert Addison today suggested regulatory rules in place at the time their clients are accused of acting "recklessly" in managing the CF Arch cru fund range were unclear.

Judge Timothy Herrington, who is overseeing the Tribunal hearing of Arch Financial Products (AFP) directors Robin Farrell and Robert Addison, said on Tuesday he had "to be careful not to apply hindsight" when assessing the firm's investment decisions...