Regulator asked by MPs to reveal details of contact with Neil Woodford

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Concerns raised that FCA may have been asleep at wheel as fund manager slipped into crisis

MPs have asked the City regulator to publish details of its contact with Neil Woodford and raised concerns that the Financial Conduct Authority may have been asleep at the wheel as the fund manager tumbled into crisis.

The Treasury select committee wants the Financial Conduct Authority to “set out the detail of its supervisory contact” with the Woodford Equity Income Fund. It also wants to know whether the watchdog plans to launch a formal investigation of the events that led to investors being blocked from cashing out their investments and to explain “how long such a suspension should be”.

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