Arch cru probe into FSA role backed by second MP

Pressure is mounting on the Treasury over Arch cru today after a second MP called for the government to step in and investigate the role of the Financial Services Authority (FSA) in the failure of the cru fund range.

Yasmin Qureshi, Labour MP for Bolton South-East, has formally written to Chancellor George Osborne asking him to look into the debacle, specifically the behaviour of the regulator. She wrote to ask the Chancellor "if he will consider the merits of initiating an investigation into the Financial Services Authority's role in relation to Arch cru funds". Financial Secretary to the Treasury Mark Hoban, who has staunchly resisted any interference by the government into the operation of the FSA since taking up his position, answered that the investigation was in the hands of the regulator. ...