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 for free

  • 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

DIY investment market hits £392bn; top five platforms still dominant

DIY investment market hits £392bn; top five platforms still dominant

'As more low-cost trading apps come to market, competition is intensifying'

James Baxter-Derrington
clock 26 February 2024 • 1 min read
Far from the Madding Crowd: An investment moment in time

Far from the Madding Crowd: An investment moment in time

'Our hunt for undervalued shares takes us away from the crowd'

Ben Preston
clock 23 February 2024 • 3 min read
Socially responsible investing index-based MPS range hits market

Socially responsible investing index-based MPS range hits market

Ebi Portfolios teams up with European asset management giant Amundi

Hope Coumbe
clock 20 February 2024 • 1 min read