Woodford Equity Income Fund investors to have their say

Jun 2nd '23

By Therese Chambers, Director, Joint Executive Director of Enforcement and Market Oversight, at the Financial Conduct Authority (FCA).


Proposals for redress to go to investors of Woodford Equity Income Fund.


Saturday June 3 2023 will be the fourth anniversary of the Woodford Equity Income Fund being suspended.


I know that if you were one of the estimated 300,000 people who had your savings invested in the fund at the point of suspension, then the most important thing is getting back as much of your money as possible. But I also know you’ll want to understand what went wrong and how we can improve outcomes in the future.


Investigations and operations like this take time. They involve painstakingly looking at large amounts of evidence. To support our work, we’ve issued almost 60 information requests, gathered over 46,000 items of relevant material and interviewed 18 witnesses.


We appreciate that the time taken causes immense frustration, particularly for those with money trapped in the fund. This is a case we need to get right, and there aren’t short cuts to doing that.


Read on further, here.


Source: FCA


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