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No chance of Woodford investigation findings coming out soon, FCA admits
Delay risks wrath of Treasury Committee
The probe into the collapse of Neil Wooford s Equity Income fund in 2019 is still ongoing
The Financial Conduct Authority has said it does not know when the investigation into the collapse of the Woodford Equity Income fund will end, causing exasperation from the Treasury Committee.
In a letter sent to the Treasury Select Committee, the City watchdog said to date it has conducted 14 witness interviews, with all key interviews now having been questioned. The investigation team has also issued over 30 information requirements which has led to the gathering of over 20,000 items of relevant material from all the key parties, FCA chief executive Nikhil Rathi said.
Disgraced fund manger Neil Woodford has been questioned by investigators looking into the collapse of his investment fund, Britain s financial watchdog has revealed.
The inquiry by the Financial Conduct Authority is expected to be completed by the end of the year, with sanctions and legal action not being ruled out.
In a letter to MPs, the regulator s chief executive, Nikhil Rathi, said officials have spoken to 14 witnesses and all key interviews are now complete.
Disgraced fund manger Neil Woodford has been questioned by investigators looking into the collapse of his investment fund
The regulator added that Woodford Investment Management Limited, Mr Woodford s firm, does not hold a licence to sell investments to the public, following recent reports that the fund manager was considering a new venture.