The Financial Conduct Authority has warned Woodford investors should “seriously consider” the redress deal on the table and not be tempted by private litigation that “promises an unrealistic return”.
In a speech delivered at the City & Financial FCA Investigations and Enforcement Summit, Therese Chambers, joint executive director of enforcement and market oversight at the FCA, argued the proposed scheme offers investors "the best chance to obtain a better outcome than might be achieved by any means". She reasserted that Link Fund Solutions had made "critical errors" in its management of the former Woodford Equity Income fund's liquidity and had breached two FCA principles: Principle 2 - the obligation to carry out its activities with due skill, care and diligence - and Principle 6 - ...
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