The FCA is seeking an injunction against Neil Woodford, pictured, and his United Arab Emirates-based comeback venture W4.0.

It comes after the financial regulator provisionally fined Mr Woodford and banned him as a fund manager last year.

The financial watchdog has launched civil proceedings against Neil Woodford over allegedly providing unauthorised adivce

The FCA is seeking an injunction against Neil Woodford, pictured, and his United Arab Emirates-based comeback venture W4.0.

Britain's City enforcer, the Financial Conduct Authority, is often criticised for its tardy and indecisive action against wrongdoers.

Former star fund manager Neil Woodford's comeback venture has responded to the financial watchdog, after the regulator launched proceedings.

The FCA alleged on Monday that former fund manager Mr Woodford and his business had been providing unauthorised investment advice.

A statement from Woodford's comeback venture W4.0 said it was 'regrettable' that the City watchdog had announced it was seeking an injunction.