Neil Woodford's investment platform W4.0 has responded to the Financial Conduct Authority’s civil action for “operating without authorisation” by rejecting its characterisation of the firm, while “remaining confident” the service lies outside the regulatory perimeter.
In a statement today (9 June), W4.0 said it has been in conversation with the FCA for the past nine months to "understand precisely" what features of its service "fall within the regulatory perimeter". It noted: "At each stage, we made changes and adjustments in response to accommodate the FCA. We have continued to engage with it to seek a resolution. We would have continued the dialogue, and it is regrettable that the FCA has chosen to litigate instead." The firm said it was surprised the FCA chose to announce its action publicly before any proceedings were served, and before the dia...
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