View the article online at http://citywire.co.uk/new-model-adviser/article/a658400
Maguire: FSA won't take action against me over Cru
by Daniel Grote on Feb 12, 2013 at 13:54
Former Cru Investment Management chairman Jon Maguire has claimed the Financial Services Authority (FSA) has closed its investigation into his involvement in the Arch Cru debacle and would be taking no action against him.
Maguire (pictured) said: 'The FSA formally confirmed today that they are closing their investigation on my management of Cru and are taking no action.'
Cru's activities were the last element of the Arch Cru scandal to be addressed by the FSA, after its censure of authorised corporate director Capita, plans to fine bosses of fund manager Arch Financial Products, and decision not to take action against depositories BNY Mellon and HSBC.
The FSA said it would not comment on individual cases.
News sponsored by:
Today's top headlines
- Sunday Papers: BoE to launch inquiry over forex fixing claims
- Saturday Papers: Independent Scotland would lose UK's AAA rating, warns Citigroup
- FCA issues warning against US firm targeting UK investors
- Nest director John Taylor exits after 12 months
- FCA set to simplify adviser charging reporting rules
More about this article:
More from us
- FSA plans ban for Arch bosses and £850k fines
- Cru crisis: FSA says HSBC and BNY Mellon won't face action
- FSA censures Capita for Arch Cru failings
by Himanshu Singh on Mar 09, 2014 at 04:54