Key facts
- The FCA is seeking an injunction against Neil Woodford and his new online service, W4.0.
- Woodford and W4.0 are accused of providing regulated investment advice without authorization.
- The FCA alleges this violates terms of a ban related to the 2019 collapse of Woodford's flagship fund.
- W4.0's website states it explains investment strategies, not provides financial advice, and is not FCA-regulated.
Britain's Financial Conduct Authority (FCA) is pursuing legal action against former fund manager Neil Woodford and his new online investment service, W4.0. The regulator is seeking an injunction to stop what it alleges are "potentially unlawful activities," specifically providing regulated investment advice and making financial promotions without authorization. This action is linked to a ban imposed on Woodford following the 2019 collapse of his flagship fund, which led to significant investor losses. The FCA previously fined Woodford and his company a combined £45.9 million over management failures related to that fund.