FCA seeks injunction against Neil Woodford and investment platform
The regulator says Woodford and W4.0 operated without authorisation and breached two areas of the Financial Services and Markets Act.
- The Financial Conduct Authority has launched civil proceedings against former City fund manager Neil Woodford for operating an investment platform without authorization since 2024.
- Following the 2019 collapse of the Woodford Equity Income Fund , which fell from more than £10.1 billion to £3.6 billion, the FCA took escalated action against Woodford.
- According to the FCA, Woodford breached the Financial Services and Markets Act by providing investment advice without authorization, prompting regulators to seek an injunction to "stop them carrying on the potentially unlawful activities."
- Last year, the FCA provisionally banned Woodford from senior roles and announced fines of £5.89 million for him and £40 million for Woodford Investment Management .
- Woodford and WIM have referred the case to the Upper Tribunal to appeal the FCA's findings, while the company has been contacted for comment on the injunction.
23 Articles
23 Articles
Former City star (and podcaster) Neil Woodford sued by FCA
Neil Woodford, a former star of the City whose equity fund collapsed in 2019, is being sued by the Financial Conduct Authority. Woodford is accused of operating without authorisation a year after the regulator said it would ban him from the City and issued a £46 million fine to him and his company. He is contesting that decision. The Woodford Equity Income fund was once worth more than £10 billion but a string of poor investments – including tec…
The British financial regulator has taken legal action against Neil Woodford, accusing the fund manager of providing unauthorized investment advice via W4.0, his new service giving clients access to its investment strategies, reports the Financial Times.
FCA Takes Neil Woodford and W4.0 to Court Over Unlicensed Advice Site
Neil Woodford is back in a courtroom. The Financial Conduct Authority has kicked off civil proceedings against the disgraced fund… Read the original on FCA Takes Neil Woodford and W4.0 to Court Over Unlicensed Advice Site. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
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