The UK financial regulator, the Financial Conduct Authority (FCA), is seeking a High Court injunction against former fund manager Neil Woodford and his online investment service, W4.0. Multiple outlets report that the FCA alleges Woodford is providing unauthorised investment advice through the platform. The action is framed as an effort to stop what the FCA describes as potentially unlawful activities.
Sources note that this legal step follows enforcement action by the FCA in the past. The Independent and other reports state that Woodford was provisionally fined and banned from holding senior roles as a fund manager after the collapse of his previously popular equity fund.
The FCA’s current case targets both the individual and the company behind the comeback attempt. The Guardian specifies that W4.0 is registered in the United Arab Emirates, while the Financial Times describes the move as an injunction application in the High Court. Overall, the reports agree that the regulator’s objective is to prevent further alleged unauthorised advice pending the outcome of legal proceedings.
