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Maguire: FSA won't take action against me over Cru

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Maguire: FSA won't take action against me over Cru

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.

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