FCA promises £235m Woodford payout as Link investigation ends

FCA concluded its investigation in Link Fund Solutions

Elliot Gulliver-Needham
clock • 2 min read

The Financial Conduct Authority (FCA) has concluded its investigation into Link Fund Solutions over the Woodford Equity Income fund, stating that £235m is set to be paid back to Woodford investors.

In a statement yesterday evening (19 April), the FCA said that following the conclusion of its investigation, there would be a "significant redress payment to investors in the LF Woodford Equity Income fund". This payment would end the regulator's enforcement action against Link Fund Solutions, it said, though there were still "other parties" under investigation over the collapse of Woodford's fund. The £235m payment would be partially funded by the sale of LFS by Link Group to Australian firm Waystone Group. In an Australian stock exchange announcement today (20 April), Link Group...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Investment

FCA greenlights £839m Rathbones/Investec W&I merger deal

FCA greenlights £839m Rathbones/Investec W&I merger deal

Shareholder approval required following regulator sign off

clock 02 June 2023 • 1 min read
Sustainable Investment Festival 2023: Consumer Duty meets ESG

Sustainable Investment Festival 2023: Consumer Duty meets ESG

Specialist two-day event will look specifically at meeting new regulations

Professional Adviser
clock 01 June 2023 • 1 min read
PA Working Lunches: Join us for an in-person event in Exeter

PA Working Lunches: Join us for an in-person event in Exeter

Join us for lunch and an informative session worth one hour of CPD

Professional Adviser
clock 30 May 2023 • 1 min read