Arc latest to file for bankruptcy on Lehman losses


Arc Capital and Income (ACI), the UK structured products plan manager, has been placed in administration by the UK Financial Services Authority (FSA) on the back of liabilities arising from its sale of Lehman Brothers-backed structured products.

The move follows the insolvency of NDFA and Defined Returns on October 14 for the same reason.

All three firms were awaiting the result of an FSA investigation into the way they had sold capital-guaranteed Lehman products. The FSA is expected to order

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