The Financial Conduct Authority has issued a warning notice to Neil Woodford and Woodford Investment Management, accusing the firm and manager of a variety of liquidity-related failings in relation to the former Woodford Equity Income fund.
According to a statement from the regulator, WIM breached Principle 2 of the FCA's Principles for Business, by "failing to act with due skill, care and diligence in the conduct of its business". It also said Woodford breached Statements of Principle 2 and 6 of the FCA's Statement of Principle for Approved Persons in relation to his roles as CF1 director and CF30 customer at the firm. Woodford investors set for first Link settlement payment as ACD makes distribution The regulator argued the investment firm failed on four counts between 31 July 2018 and 3 June 2019, with each relate...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
