FCA issues warning notice to Neil Woodford and WIM over liquidity failings

‘Inappropriate investment decisions’

James Baxter-Derrington
clock • 2 min read

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...

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