Overview

• Neil Woodford criticized for narrow understanding of job as FCA plans enforcement action over his fund's collapse.
• Woodford Equity Income Fund, once valued at £10bn, failed due to liquidity issues, affecting over 300,000 investors.
• Link Fund Solutions, the fund's administrator, settles with FCA for £230m without admitting liability, avoiding a potential £50m fine.
• FCA claims Woodford and his firm failed to manage fund liquidity and respond to deteriorating conditions.
• Legal representatives for Woodford plan to challenge the FCA's findings, asserting that the liquidity framework was approved by the FCA.