Neil Woodford and Woodford Investment Management have challenged the Financial Conduct Authority’s findings related to liquidity failings, arguing the issues lay with Link Fund Solutions.
Jointly represented by WilmerHale and BCLP, the manager and fund house argued the findings are "unprecedented and fundamentally misconceived". This morning (11 April), the regulator revealed it had issued warning statements against the parties on 19 February 2024, arguing WIM had made "unreasonable and inappropriate investment decisions". The FCA also said Woodford had "a defective and unreasonably narrow understanding of his responsibilities", among several other liquidity-related concerns. FCA issues warning notice to Neil Woodford and WIM over liquidity failings In response,...
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