Neil Woodford cases, which centre on Compliance team relationships, go to Tribunal

The former fund manager is heading to the Upper Tribunal to challenge a £5.9 million FCA fine and ban for exercising a "defective and unreasonably narrow understanding of his responsibilities" when director and investment manager of Woodford Management Ltd.

By Neasa MacErlean

His relationship with the firm's Risk and Compliance teams were identified as a significant part of failures that also saw the firm fined £40m. The issues relate to the management of the Woodford Equity Income Fund whose value fell to a third in the three years leading to its suspension in June 2019.