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FCA head wants illiquidity lessons learned from Woodford saga

Warning from Andrew Bailey comes as Treasury Committee chair Nicky Morgan ups pressure on regulator to take action

The head of the UK Financial Conduct Authority says the regulator may need to revise its rules on investing in illiquid assets in the wake of the problems engulfing prominent stock picker Neil Woodford.

Writing in the Financial Times, Andrew Bailey said Woodford’s decision last week to suspend trading in his flagship Equity Income fund following heavy redemption requests raised questions for the FCA.

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