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...
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
