Gosling's Grouse: Ignorance is bliss

Ignorance is bliss

clock • 2 min read

As a forward-looking regulator, the FCA takes action where we see risks to consumers, not just after they suffer losses. In this case, investors of all sizes trusted Invesco Perpetual to manage their money.

They signed up for a certain level of risk, but we found Invesco Perpetual’s actions were at odds with investors’ reasonable expectations.” So said the FCA in its announcement of the fine imposed last week on Invesco Perpetual. Are we beginning to see one of the reasons why Neil Woodford decided to call it a day with the company? No doubt after some of these rule breaches – only some of which referred to his funds – came to light, the level of compliance interest in what he was doing was heavier than previously. The more onerous compliance environment, particularly post Lehmans, is on...

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