Britain’s City enforcer, the Financial Conduct Authority (FCA), is often criticised for its tardy and indecisive action against wrongdoers.
So it is satisfying to see it come down like a ton of bricks on Neil Woodford, the errant fund manager who crashed his Woodford Equity Income Fund in 2019.
Woodford has re-emerged as a leading light in an investment service operating out of Abu Dhabi under the difficult-to-decipher name W4.0.
The FCA charges that Woodford is offering regulated investment advice and making financial promotions without the necessary authorisations. It has issued an injunction against the irrepressible adviser.
Visitors to the W4.0 website would be hard put to know that Woodford is currently embroiled in a bitter dispute with the FCA over its efforts to punish past failings, or that he has anything but an exemplary record.
