Tesla’s UK sales fall almost 60% in July; Neil Woodford fined and banned over fund collapse – business live
Rolling coverage of the latest economic and financial newsNewsflash: The UK’s financial regulator has decided to fine former star fund manager Neil Woodford and his investment management company nearly £46m, over the collapse of his popular equity fund.The Financial Conduct Authority says it has decided to fine Woodford £5,888,800 and ban him from holding senior manager roles and managing funds for retail investors.‘Being a leader in financial services comes with responsibilities as well as profile. Mr Woodford simply doesn’t accept he had any role in managing the liquidity of the fund.The very minimum investors should expect is those managing their money make sensible decisions and take their senior role seriously. Neither Neil Woodford nor Woodford Investment Management did so, putting at risk the money people had entrusted them with.’ Continue reading...
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Rolling coverage of the latest economic and financial news
Newsflash: The UK’s financial regulator has decided to fine former star fund manager Neil Woodford and his investment management company nearly £46m, over the collapse of his popular equity fund.
The Financial Conduct Authority says it has decided to fine Woodford £5,888,800 and ban him from holding senior manager roles and managing funds for retail investors.
‘Being a leader in financial services comes with responsibilities as well as profile. Mr Woodford simply doesn’t accept he had any role in managing the liquidity of the fund.
The very minimum investors should expect is those managing their money make sensible decisions and take their senior role seriously. Neither Neil Woodford nor Woodford Investment Management did so, putting at risk the money people had entrusted them with.’
Continue reading...
