From £6.99 per month
ShareProphets
The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares

MINDING THE LSE’S BUSINESS

Join for as low as £6.99 per month

With ShareProphets’ membership, you receive:

• All premium articles

• Tom Winnifrith’s Bearcast

• Access to all the entire nearly 10 year archive

• ShareProphets Daily Newsletter

Breaking: Neil Woodford under formal FCA investigation, flagship fund was being monitored from April 2018

By Tom Winnifrith | Tuesday 18 June 2019


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Maybe someone at the FCA has been reading our four years of groundbreaking Neil Woodford exposes after all. This afternoon its boss Andrew Bailey has written to Nicky Morgan MP with detailed information and the shock revelations that the FCA was monitoring toxic Neil from April 2018 (but did nothing) and that Woodford is now under a formal FCA investigation over the suspension of his flagship Equity Income Fund. The letter also reveals that the banks have now pulled the plug on EIF's "emergency overdraft" which has been utilised for 18 months as a "temporary measure."  The leter is in full below.

 

null

null

This story is available to all readers
ShareProphets is reader-supported journalism

Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.


Filed under:


Subscribe to our newsletter

Daily digest of our latest stories.



Search ShareProphets

Market News

Complete Coverage

Recent Comments

That Was the Week that Was

 

CTAI

Catenai – monster dilution

Time left: 14:01:54