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Talks between Woodford administrator and FCA extended over potential £50m fine

Link Fund Solutions had been given 14 days to respond to the Financial Conduct Authority’s draft warning notice

By David Ricketts
The potential fine from the FCA is in addition to the proposed £306m, which the regulator previously said Link may be forced to pay as part of a consumer redress scheme
The potential fine from the FCA is in addition to the proposed £306m, which the regulator previously said Link may be forced to pay as part of a consumer redress scheme Photo: Alamy

Link Fund Solutions, the administrator responsible for the oversight of Neil Woodford’s former flagship investment fund, has been given longer to respond to a draft warning notice from the UK regulator regarding a potential £50m fine for oversight failures.

The Financial Conduct Authority warned Link on 21 September that it could be forced to pay the multi-million pound penalty following a more than three-year-long probe into the circumstances leading up to the suspension of Woodford’s £3.7bn Equity Income fund in June 2019.

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