Thousands of Arch cru investors have written to their MPs today accusing Capita of intentionally violating the Financial Services Authority's treating customers fairly (TCF) charter.
The FSA states TCF "is central to the delivery of our retail regulatory agenda, which aims to ensure an efficient and effective market and thereby help consumers achieve a fair deal". TCF is part of the regulator's core supervisory work and firms' delivery of the TCF outcomes is assessed using the FSA's risk-responsive operating framework, ARROW. In the letters to MPs, investors who have lost money in Arch cru and who argue the £54m partial payment deal on offer from Capita is unfair, argue Capita's performance as the fund range's authorised corporate director breaches all six outcome...
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