31st July 2013
On 28th February 2013, the Financial Services Compensation Scheme (FSCS) announced that it had found no evidence to show that Rockingham Independent Limited was liable for claims relating to advice that it gave clients to invest into bonds issued by the Luxembourg based company, ARM Asset Backed Securities SA (“ARM”).
Since that announcement, FSCS has received a number of responses from claimants presenting some new evidence in support of their claims. We are now reviewing this evidence and considering whether it changes our original view on Rockingham’s liability. Although the investigations are at an advanced stage, this work is continuing and we will aim to provide a full update to Rockingham investors by the end of September.