FCA finds Neil Woodford had "defective understanding" before Woodford Equity Income Fund collapse, plans regulatory action.

The UK's Financial Conduct Authority (FCA) has found that Neil Woodford, former fund manager, had a "defective and unreasonably narrow understanding of his job" before his flagship fund Woodford Equity Income Fund collapsed. The FCA claims that Mr. Woodford failed to act with skill, care, and diligence when managing the £3.7bn equity income fund between July 2018 and June 2019, and plans to take regulatory enforcement action against him.

April 11, 2024
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