The British parliament's influential Treasury Committee has called on the UK's finance watchdog to clarify when it expects to conclude its probe into Neil Woodford's collapsed investment fund, amid growing calls for an independent inquiry its handling over the matter.

The Financial Conduct Authority was forced to issue a statement earlier this week following news that Woodford is planning an imminent comeback by launching a Jersey-based business. His bombshell announcement comes 16 months after Woodford's previous investment empire collapsed and before the UK financial regulator has concluded its almost two-year-long investigation into the implosion of his biggest fund.