The Financial Conduct Authority gave scant detail on progress regarding Woodford, in a letter to the Treasury Committee dated 14th December 2022 (published 11th January 2023), responding to questions posed during the hearing and updates to the Committee on progress in certain areas.
ShareSoc considers the FCA letter to be insufficient. We have written to the Committee saying “we respectfully request that the Committee consider asking members of the FCA to appear before the Committee in person so that the progress of ...
We received very strongly positive feedback from the 832 registrants to this webinar. A recording of the webinar is available here.
The Missing 90%
The webinar highlighted the Enigma of the missing 90% of claimants. We think up to 270,000 investors have yet to claim and we plan to issue a press release highlighting this and some of the points below:
Nearly 300,000 investors lost money in the Woodford Equity Income Fund (WEIF)and now have an opportunity to claim compensation, but so far ...
Harcus Parker (HP) has been investigating claims against fund managers and others for closet tracking: the practice of describing a fund as actively managed and charging for that service but in fact merely tracking an index or constraining performance.
HP are currently focussing investigations on two subsidiaries of Lloyds Banking Group, Scottish Widows and the Halifax. HP have now identified that the Halifax UK Growth Fund appears to be managed in exactly the same manner as the Scottish Widows UK Growth Fund, ...
This is a personal blog by ShareSoc Director Cliff Weight and does not necessarily represent the views of ShareSoc.
I have been concerned about Closet Indexing for some time. As have many others, eg
I met with executives from the FCA on 26 July to discuss our concerns. I have also had several conversations with David Rankin from Punter Southall. The latest news is that Harcus Parker have now starting gathering claimants for a class action against Scottish Widows. They have said-
Harcus Parker ...