Tweet
Following an announcement made on 20 February by Link Group to the Australian Securities Exchange, the Financial Conduct Authority (FCA) is providing a short update on its proposed enforcement action against Link Fund Solutions Ltd (LFS).
We are in advanced confidential discussions with Link Group and LFS to determine whether the FCA’s proposed enforcement action against LFS can be resolved by agreement.
The FCA is focused on ensuring that consumers affected by the suspension of the Woodford Equity Income Fund (WEIF) obtain redress.
To assist a potential resolution, the FCA has provided time for Link Group to realise assets, including Link Group held assets, to meet the FCA’s concerns.
We have previously set out that any redress figure would be based on our view of LFS's failings in managing the liquidity of the WEIF.
We know that affected investors will be keen to understand what impact this may have on them, including how any proposed scheme of arrangement would work. We will provide a further update as soon as we are able to.
https://www.fca.org.uk/news/statemen...fund-solutions
