FSA allows Arc administrator to release client funds

Carter Backer Winter received notification of the waiver last night and it came into force at 12 noon today. The ruling means any income or capital owed to investors, which until now has remained frozen in client accounts, can be returned. As Merchant Capital has bought the structured product books of ACI, any income or capital payments received before it went into administration will be transferred to Merchant for distribution. Any income or capital payments received after ACI went into administration will be paid by CBW. However, these will incur a deduction of about 3% to pay fo...