The Financial Conduct Authority has made clear it is “likely” to seek consumer redress of up to £306m on Link Fund Solutions over its failings in the collapse of the former Woodford Equity Income fund.
In a statement relating to a proposed takeover of Link Group, the FCA revealed the probable course of action it will take over Link Fund Solutions' "failings in managing the liquidity of the WEIF". Woodford ends ambition for UK business The regulator said it had "investigated the circumstances leading to the suspension of the WEIF and is likely to seek to require LFS to pay a financial penalty and/or consumer redress", although it clarified this was "not a final decision" and LFS is welcome to challenge any proposed action through an independent decision maker. This redress figure...
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