The City watchdog has launched legal action against disgraced fund manager Neil Woodford for providing investment advice without authorisation.
The Financial Conduct Authority (FCA) said yesterday it was seeking an injunction against Woodford and his United Arab Emirates-based comeback venture W4.0 ‘to stop them carrying out the unlawful activities’.
It comes seven years after the career of the one-time star stock-picker came to a juddering halt in one of the UK’s biggest retail investment scandals.
The crisis that engulfed his empire in 2019 left 300,000 investors with £3.7billion stuck in his Woodford Equity Income Fund.
Last year, the FCA hit Woodford and his now-defunct former business with fines totalling £46million and banned him from holding top City jobs.
