Make your money go further for just 25p per day

PREMIUM

Dear FCA, it’s time to act

Neil Woodford looks worried as he sits in a boardroom

Would the Woodfund fund fiasco have happened if the Financial Conduct Authority had done its job better? Possibly not. Does the UK's financial regulator have a lot of work to do to re-build trust in the industry and ensure the mistakes of the last few years do not happen again? Absolutely. Here is our overview of the problems which have led to the downfall of Woodford (and potentially others) and the steps the FCA must now take to rectify the situation.


Dear Financial Conduct Authority,

I am sure you are aware that over the last few weeks many demands have been made of your work. We thank you for your quick action in opening a probe into the fiasco of the Woodford Equity Income Fund and appreciate your admittance of failings in the lead up to the fund’s suspension.

We also acknowledge that the palaver is not entirely your fault. Clearly Neil Woodford himself has a lot to answer, while advisers, managers and platforms have a long way to go to right the wrongs of recent years. We journalists and educators must also do more to ensure better trust in the finance industry.

But it is you, the regulator, who is in the best position to make real, lasting change. We hope you are up to the job.

To help you out, I enclose a comprehensive list of requests from the wider industry that you may wish to ponder as you begin your investigation.

1.…

Continue reading this article…

Enjoy FREE access to the top news and insights from the investment world and our introductory finance guides.
  • Informative guides
  • Unique podcasts
  • Financial news and political insight
Gain access to all our excellent content for just £90 per year, that’s just 25p per day for financial freedom.
  • In depth coverage of many of the world’s great companies
  • Breaking news on potential upcoming disasters
  • Unique insights from our top research team

Have your say

Log in or register to view or add comments.

For access to the top news and insights from the investment world

REGISTER FREE TODAY

Become a Champion Investor for as little as £3.20 per report or get a year's worth of money-making analysis for just £90.

SUBSCRIBE NOW

More Investors Clinic

Daily Mail vs New York Times: which newspaper makes a better investment?

How are the housebuilders coping with the UK property market?

Gap: growth stock at a value price

03/07/2019 · Gap Inc