15th April 2015
The Financial Services Compensation Scheme (FSCS) is continuing to investigate the liability of independent financial advisers (IFAs) and HD Administrators in respect of investments in Arck LLP. Claims in relation to investments in Arck LLP have been on hold pending the outcome of a joint investigation by the Serious Fraud Office (SFO) and Nottinghamshire Police against two former partners of Arck LLP.
The partners of Arck LLP, Kathryn Joy Clark and Richard Aston Clay, have now pleaded guilty to three fraud charges. More information on the criminal proceedings is available on the SFO website.
In light of the criminal proceedings, we are a step closer to being able to assess the Scheme’s position in relation to these claims. However, we are currently waiting for information from third parties which will allow us to finalise our position.
We apologise for the delay, and we will publish more information on our website as soon as we are able to.