FSA Capita censure shows IFAs not to blame over Arch Cru

ARCH CRU

Laura Miller
clock •

The public censure of Capita Financial Managers (CFM) by the Financial Services Authority (FSA) is a damning indictment of the firm's failings - and a vindication of advisers' pleas.

The FSA's final notice against Capita lists failing after failing by the firm during its tenure as authorised corporate director of the Arch Cru fund range. As far as I can see, there is not one area of its responsibility in regards to the Arch Cru fund range it discharged correctly. How could advisers who recommended the Arch Cru funds to clients have known Capita would be so negligent? The answer is, without the benefit of hindsight, they couldn't. If Capita had done its job properly, the problems with the fund would have been flagged earlier, saving many investors - and advisers...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Budget 26: Stamp Duty on shares to be swapped for Securities Transfer Tax

Budget 26: Stamp Duty on shares to be swapped for Securities Transfer Tax

By late 2027

Patrick Brusnahan
clock 28 October 2026 • 1 min read
Investment tax relief rises by smallest amount in four years amid recent Budget measures

Investment tax relief rises by smallest amount in four years amid recent Budget measures

Bowmore Financial Planning research

Jack Roach
clock 28 October 2026 • 2 min read
Defaqto to launch rating for newer funds and portfolios

Defaqto to launch rating for newer funds and portfolios

Combines Defaqto and RSMR expertise

Jen Frost
clock 27 October 2026 • 2 min read