18th February 2021

FCA should set out when Woodford investigation will conclude

 

Rt Hon. Mel Stride MP, Chair of the Treasury Committee, comments on the reports that Neil Woodford is to set up a new investment firm:

 

“The previous Treasury Committee was vocal in its concerns regarding the failure of the Woodford Fund and the impact on its investors.

 

“As the FCA’s investigation still continues over 18 months after the fund was suspended, the reports of the new fund may understandably be of concern to investors who previously lost out.

 

“The FCA should set out when we can expect its investigation to conclude.

 

“In the meantime, it’s important to note Mr Steward’s comments reiterating some of the factors that the FCA will consider when taking a decision to authorise a new firm, along with the co-operation that has been agreed between the FCA and the Jersey Financial Services Commission.”

 

Commenting on a letter from Gina Miller and Alan Miller to the Treasury Committee, Mr Stride said:

 

“The Treasury Committee will consider this letter fully when Parliament returns next week.”

 

--Ends--