Woodford saga: Industry believes there is light at the end of the tunnel for investors trapped in fund
FCA inquiry will not report this year
Woodford interviewed by investigators probing fund collapse
The Financial Conduct Authority s ongoing investigation into the collapse of the Woodford Equity Income fund has been slow but investors stuck in a limbo might be closer to getting answers, according to industry experts.
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.
Moira O Neill, head of personal finance at interactive investor, said: Today s update from the FCA is short on clarity for the investors who have already been left in at best limbo and at worst in financial misery, for two long years.
The FCA kicked off its inquiry into what led to the demise of Neil Woodford s investment empire in June 2019. But two years on, MPs slammed the FCA for its slow progress.
The City watchdog is set to update MPs today on its investigation into the downfall of Woodford Investment Management.
The Financial Conduct Authority (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, shortly after Neil Woodford’s flagship fund was shuttered, spelling the demise of his investment empire.
Probe: The Financial Conduct Authority launched an investigation in summer 2019, shortly after Neil Woodford’s flagship fund was shuttered
But two years later, nothing has been published – and MPs are putting pressure on the FCA to reach its conclusion.