New Model Adviser - For Professional Investors

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

FSA Cru scheme hit by delays after flood of responses

FSA Cru scheme hit by delays after flood of responses

The Financial Services Authority (FSA) has delayed the publication of a policy statement on its proposed £110 million Arch Cru redress scheme following an overwhelming response to its consultation on the measures, according to the Mail on Sunday.

The regulator was due to publish the document this month on the scheme, which will require advisers who sold the failed funds to pay out to clients.

Adviser trade bodies the Association of Professional Financial Advisers and IFA Centre have railed against the proposals in their submissions to the FSA consultation.

Minutes of a FSA board meeting held in April highlighted divisions at the top level of the regulator over whether to go ahead with the scheme.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Comment & analysis