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The Guardian - UK

Business

Kalyeena Makortoff Banking correspondent

City watchdog sues Neil Woodford for allegedly offering unauthorised investment advice

Neil Woodford FCA the Financial Conduct Authority

Neil Woodford — Neil Woodford’s equity fund was worth more than £10bn at its peak. Photograph: Troika/Alamy

The UK financial regulator is taking legal action against the former investment star Neil Woodford for allegedly offering unauthorised investment advice online, months after announcing plans to ban him from the City.

The Financial Conduct Authority said it was seeking an injunction against Woodford and W4.0, a United Arab Emirates-registered company, to stop them carrying out “potentially unlawful activities”.

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