How much can advisers really be expected to know about problem investments before they turn sour? Keydata and Arch cru collapsed separately six years ago, but important new details about who and what caused the multi-million pound failures are still filtering out. Advisers were among the first to be blamed, if not for causing the […]

The Guernsey Financial Services Commission has handed out fines to the Arch cru administrator Bordeaux and three of its directors for their role in the collapse of the funds. Bordeaux has been fined £150,000, while directors Peter Radford, Neal Meader and Geoffrey Tostevin have been hit with penalties of £50,000, £30,000 and £30,000, respectively. In […]

SPL Private Finance (PF1) IC Ltd and others v Arch Financial Products LLP and others; SPL Private Finance (PF2) IC Ltd and others v Robin Farrell An investment manager, Arch Financial Products LLP (Arch FP), was found to have breached its fiduciary duties in advising upon an investment which was not in the best interests […]

In a judgment dealing with the collapse of the Arch Cru Funds (the Funds), the High Court has re-examined and clarified the law applying to investment managers. SPL Private Finance (PF1) IC Ltd and others v Arch Financial Products LLP  In awarding over £22 million in damages against the investment manager and its Chief Executive […]

Following the Upper Tribunal’s decision concerning two non-executive directors of Arch Financial Products LLP (Arch) the FCA has published final notices. The FCA has: Imposed a £200,000 fine on Robert Addison, Arch’s former compliance officer, for breaches of Principles 1 and 7 of the FCA’s Statements of Principle for Approved Persons, withdrawn his permission to […]