FSA extends Arch cru probe to inherited clients

The FSA has extended its investigation into advisers who sold Arch cru funds to include inherited or acquired clients.

The regulator began writing to advisers who recommended one or more of six CF Arch cru funds last month. But, according to one adviser who received his letter last week, the original requests for information included no mention of sales made by another firm. The latest tranche of letters, seen by IFAonline and dated 6 January, now include the following paragraph: "If you are providing services to clients who were sold an investment in one of the Arch cru funds by another firm, you are required to provide a separate list of the names of these clients...