Update: Lord Myners takes aim at FCA over Woodford

Treasury Committee will look at 'troubling episode'

Lord Myners, former City Minister during the global financial crisis, has accused the FCA of missing "clear warning signs" regarding Woodford's Equity Income fund, which suspended dealing earlier this week.

Myners told the BBC the regulator "should have been awake" to issues regarding the fund. He said: "[The FCA were] like the people in white suits on Line of Duty - the scene of crime inspectors who arrive after the damage has been done and did not anticipate what was happening, even though there were clear warning signs at Woodford that things were going badly." The FCA has confirmed it is "in discussions" with Woodford Investment Management's authorised corporate director Link Fund Solutions and Guernsey's stock exchange over the firm's decision to list illiquid holdings there. Yes...