FCA Takes Regulatory Action Against Neil Woodford for Fund Mismanagement
The UK's Financial Conduct Authority has announced enforcement actions against Neil Woodford, citing a 'defective' understanding of liquidity management responsibilities.
- Neil Woodford criticized for narrow understanding of job as FCA plans enforcement action over his fund's collapse.
- Woodford Equity Income Fund, once valued at £10bn, failed due to liquidity issues, affecting over 300,000 investors.
- Link Fund Solutions, the fund's administrator, settles with FCA for £230m without admitting liability, avoiding a potential £50m fine.
- FCA claims Woodford and his firm failed to manage fund liquidity and respond to deteriorating conditions.
- Legal representatives for Woodford plan to challenge the FCA's findings, asserting that the liquidity framework was approved by the FCA.
Evening Standard 
The Telegraph 