The Financial Conduct Authority has agreed to a settlement to bring to a close its investigation of Link Fund Solutions' role as authorised corporate director on the former LF Woodford Equity Income fund.
In a statement yesterday evening (19 April), the FCA revealed it had agreed a redress payment of up to £235m for investors trapped in the former WEIF. This payment would end the regulator's enforcement action against Link Fund Solutions, it said, though there were still "other parties" under investigation over the collapse of Woodford's fund. An FCA spokesperson said there was currently no timeframe on the conclusion of other investigations into the fund. The £235m payment would be partially funded by the sale of Link Fund Solutions and some associated entities to Waystone Group. ...
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