FCA moves towards Woodford redress proposal with fund administrators

Investors who were in the Woodford Equity Income Fund when it was suspended in 2019 are being urged by the FCA to agree a settlement arrangement that will pay out about 77-79 per cent of the estimated losses.

By Neasa MacErlean

In her first public statementsince taking on her new role, Therese Chambers, executive director of Enforcement and Market Oversight at the Financial Conduct Authority, told the 300,000 investors: "We believe the proposed scheme offers investors the best chance to obtain a better outcome than might be achieved by any other means and it is in the investors' interests they be given the chance to consider it."