Weekly Financial Services Regulatory Update - 04.05.12

This weekly update from Clyde & Co's Financial Services Regulatory Team summarises new developments as reported by the FSA, the UKLA, the Upper Tribunal, the Financial Ombudsman Service and the London Stock Exchange over the past week, with links to the full documents where these are available.

Consultation papers:

30 April: Consumer redress scheme in respect of unsuitable advice to invest in Arch cru funds. The FSA has released a consultation paper (CP12/9) entitled 'Consumer redress scheme in respect of unsuitable advice to invest in Arch cru funds'. The consultation paper will be relevant to all firms who sold Arch cru funds, investors in Arch cru funds, as well as trade bodies and consumer groups. The FSA has released CP12/9 on the basis of its concern that Arch cru funds have been mis-sold to consumers and that redress should be available to put those investors back into the position they were in prior to investing. The onus will be on the firms who sold the