Capita And Arch Cru

EDM number 230 in 2013-14, proposed by George Galloway on 12/06/2013.
Categorised under the topic of Financial services.

That this House condemns the failure of Capita Financial Managers Limited (CFML) and the Financial Conduct Authority (FCA) to compensate fully the 20,000 innocent people affected by the suspension of the UK authorised and regulated Arch Cru investment funds; notes that investors, many of whom put in their life savings, were informed these were low risk funds; holds Capita responsible for failures in oversight of the funds, the investments of which were hidden behind Guernsey cell companies to give them the aura of eligible holdings; is gravely concerned that this failure may well impact on investors in some of the other 230 funds, worth around

This motion has been signed by a total of 37 MPs.