Ex-Arch Financial Products chief executive Robin Farrell and compliance director Robert Addison have fiercely contested allegations of greed and dishonesty in relation to investments made by the Arch cru funds.
Arch Financial Products - headed by chief executive Robin Farrell - has been accused of taking £3m in fees for a deal involving the Arch cru funds which "was valued at nil", the High Court heard today.
The Financial Conduct Authority (FCA) is writing to clients of advisers who reported a below average opt-in rate for its Arch cru redress scheme - to ask if they believe they had been properly informed.
IFA Willow Financial has been forced into administration over £1.5m in liabilities relating to its Arch cru advice - but has been bought back by some of its former partners at a knock-down price, and they won't be footing the bill for claims.
A group of up to 1,000 investors in failed fund range Arch Cru have joined forces to bring a case against the vehicle's authorised corporate director Capita Financial Managers - and have found a top London law firm, favourable counsel's opinion and third...
The Financial Conduct Authority (FCA) has written to advisers asking them why they failed to comply to its redress scheme rules in reporting back on the number of eligible Arch Cru claimants they had on their books.
The Financial Services Compensation Scheme (FSCS) has so far compensated 1,700 claimants with a total of £32m in relation to the failed CF Arch cru funds.
The Financial Services Compensation Scheme (FSCS) said it is continuing to receive claims in respect of the CF Arch cru funds, and has put the likelihood of a further interim levy for 2013-14 as ‘medium'.
Investors in the failed Arch cru fund range have received a further return of £17.6m of their capital as the directors now at the helm wind down the company.
Investors in the collapsed Arch cru fund range who sign up to a payment scheme set up by the funds' authorised corporate director, Capita Financial Managers, are in line to receive markedly less than forecast.