FTAdviser.com - Make Arch Cru stance known, Maguire tells FSA: "Mr Maguire said: 'We have got to have answers now on where they stand on this. They are going after IFAs, but this is a management problem.'"
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Although I don't know any IFAs who placed their client monies in Arch Cru I agree that if the FSA is conducting a thematic review of IFA new business that the regulator must first make clear its position on who it believes is to blame for the failure and who will be held responsible for any losses, finally an independent legal opinion should support any further action taken by the regulator.
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