Page 81 - Link Group News Today

The UKs Financial Conduct Authority (FCA) has approved Dye & Durhams takeover of Link Group, but the acquisition may be hindered by potential redress payments of more than $500 million over Links involvement with the LF Woodford Equity Income Fund.

LFS will “explore all options” relating to the £306m redress bill likely to be imposed on the firm over failings during the Woodford collapse

The takeover of the superannuation administrator and share registry group is in serious jeopardy as investors bet it will fall over after a UK ruling over a collapsed fund.

The regulator will not approve the deal unless Dye & Durham agrees to cover redress payments stemming from Link’s involvement in the Woodford fund collapse. The UK Financial Conduct Authority (FCA)

Link Fund Solutions (LFS) announced it is exploring “all options” in case a warning notice is issued against it. The Financial Conduct Authority said on 12 September it is “likely” to require LFS to pay redress of up to £306m following the closure of the Woodford Equity Income Fund (WEIF) in 2019.

Thousands were left out of pocket when Link Group - the firm supervising Woodfords management - suspended the Equity Income Fund in 2019 .

The Financial Conduct Authority has said it is “likely” to require Link Fund Solutions to pay redress of up to £306m following the closure of the Woodford Equity Income Fund (WEIF) in 2019.

The Financial Conduct Authority has made clear it is “likely” to impose a financial penalty of up to £306m on Link Fund Solutions.

Among UK companies with reports and updates are Ocado, FeverTree, Future, Smart Metering Systems and Parsley Box Group.

Link Fund Solutions, which managed the collapsed LF Woodford Equity Income Fund, could be forced to pay up to 306 million pounds ($358 million) in redress, Britains Financial Conduct Authority said on Monday.