The FCA promised the Treasury Select Committee it would report on its progress by the end of this month.It kicked off the probe in summer 2019, after Woodford s flagship fund was shuttered.
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.
Neil Woodford has been questioned by investigators looking into the collapse of his investment fund, the financial watchdog has revealed.
The inquiry by the Financial Conduct Authority (FCA) 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.
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.
Woodford inquiry won t report this year says FCA
“I appreciate it may be frustrating that I am unable to provide further details regarding the investigation . Neil Woodford
The official Inquiry into the collapse of Woodford Equity Income Fund will not report this year, the FCA chief executive has said.
In a letter to the head of the Treasury Committee, Nikhil Rathi, the FCA’s chief executive, said that the investigation had made ‘substantial progress’ and that he was ‘confident the investigation work will be completed by the end of this year’.
However, Rathi added while current lines of enquiries were nearly complete, further steps will be needed with the possibility of re-interviewing witnesses that might give rise to additional lines of enquiry.
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