Was the FCA "asleep at the wheel" when Woodford’s equity income fund went down?

The regulatory system cannot rely on the regulator to monitor and oversee every authorised fund in the UK

Rosalyn Breedy, partner at Wedlake Bell, argues that the regulatory system cannot work by relying on the regulator to monitor and oversee every authorised fund in the UK. The UK investment industry was estimated at £9.1 trillion in 2018. What is required now is a wholesale review of whether the current regulatory regime and government approach is fit for purpose for the next decade and beyond.