Data (Use and Access) Bill [HL]
The Data (Use and Access) Bill [HL] is scheduled to have its second reading in the House of Commons on 12 February 2025.
![Data (Use and Access) Bill [HL]](https://commonslibrary.parliament.uk/content/uploads/2020/08/consumers-568x426.jpg)
This note brings together information about the frozen Arch cru investment funds and the new compensation scheme available for investors.
Arch Cru (238 KB , PDF)
Arch cru investment funds were suspended in March 2009 due to liquidity problems. Since then unease has been expressed by investors who feel that the fund had not fulfilled its mandate. Underlying assets of the fund appear to include significant investments in a Greek shipping company which goes against the description of the fund as a diversified medium risk fund. In June 2011 the FSA announced a £54 million compensation scheme which might give investors about 70% of their investments. Further details were given by the managing company Capita in August 2011.
In December 2012 the FSA announced details of a consumer redress scheme – the first such scheme since the FSA had been granted its powers in 2010. In January 2014 further announcements were made regarding investor compensation.
Arch Cru (238 KB , PDF)
The Data (Use and Access) Bill [HL] is scheduled to have its second reading in the House of Commons on 12 February 2025.
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