15 Dec FSA Launch Investigation in Advisers Who Sold Arch Cru Funds

The FSA are launching an investigation into any advisers who sold Arch Cru funds and will be contacting all of them over the next few days to get their hands on further details in addition to requesting client files. A letter from the regulator has been sent to a host of advisers, with the FSA intending to look into all six of the Arch Cru funds, which will span sales made between July 2006 and March 2009. The FSA is now demanding that all relevant information is provided to them by 19th December and any company that fails to provide the information they will be in contempt of court. The letter commented "Please begin preparing the client files for any Arch Cru sales in anticipation of this request. We may also request further additional information with respect to your firm's sales of CF Arch Cru funds such as your due diligence."