Basic Search  |  Summaries  |  Advanced SearchPenalty: £298,404,919
Year: 2024
Date: 11 April, 2024
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Link Fund Solutions agreed to pay restitution to investors in the LF Woodford Equity Income Fund of £298 million, or a lower sum as may be payable under a scheme of arrangement. Courts had approved a proposal where Link Fund Solutions' ultimate parent, Link Administration Holdings, would contribute to an estimated total restitution of £230 million. The FCA findings were that Link failed to act with due care and diligence in it's role as Authorised Corporate Director for the LF Woodford Equity Income Fund, which was shut down in 2019.
Settlement Type: Settlement
Agency: Financial Conduct Authority
Source of Data: (click here)