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.

His relationship with the Risk and Compliance teams was 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.