UK regulator sues Neil Woodford over investment advice
The Financial Conduct Authority is seeking an injunction against former fund manager Neil Woodford and his new service W4.0 for allegedly providing regulated advice without authorization. This legal action follows a previous 45.9 million pound fine related to his former fund management firm.
The United Kingdom financial regulator is suing former fund manager Neil Woodford and his investment service for allegedly providing unauthorized financial advice and promotions. The Financial Conduct Authority (FCA) is seeking an injunction to halt activities it claims violate regulatory requirements for W4.0. The legal action follows a previous £45.9 million fine against Woodford and his former firm for management failures related to a 2019 fund collapse.
### FCA Targets Unauthorized Promotions The FCA filed the lawsuit on Monday against Woodford and W4.0, an online subscription service launched last year. The regulator alleges the parties provided regulated investment advice and conducted financial promotions without the necessary legal authorization. This move follows a previous enforcement action in August when the FCA fined Woodford and his former firm £45.9 million for management failures.
