Investment Banking

FCA: Neil Woodford’s oversight of flagship fund was ‘defective’

Regulator hits former investment supremo with a warning notice

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The FCA has been investigating the fallout from the Woodford collapse for nearly five years Photo: Alamy

The Financial Conduct Authority has issued a warning notice against former star manager Neil Woodford, nearly five years after his fund collapsed, for failing to address liquidity concerns.

Woodford had a “defective and unreasonably narrow understanding of his responsibilities for managing liquidity risks”, according to a warning notice issued by the watchdog on 11 April.

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