FCA contacted the Woodford fund with concerns 16 months ago

By Neasa MacErlean

The Financial Conduct Authority – which has now revealed an investigation into the events leading to the suspension of the Woodford Equity Income Fund – first expressed concerns 16 months ago. The regulator divulged in a letter from chief executive Andrew Bailey that it made contact with the fund’s corporate director, Link, in February 2018 and then began “monthly monitoring discussions with Link in relation to the deteriorating liquidity position” for the six months up to December.