The UK Financial Conduct Authority sought a High Court injunction alleging that former fund manager Neil Woodford and his subscription platform W4.0 provided regulated investment advice and made financial promotions without authorisation, in breach of sections 19 and 21 of the Financial Services and Markets Act, the regulator said.
REGULATOR ACTION
The FCA moved to the High Court to secure an injunction to address what it described as unauthorised activity. In its application the regulator set out concerns about the nature of the online service and whether it constituted regulated investment advice, an activity that requires FCA authorisation. The FCA said it was seeking an injunction to stop Woodford and the company carrying on the potentially unlawful activities.
W4.0 is a subscription-based platform through which Woodford has published podcasts and articles about investing since 2024.
BACKGROUND
The action follows the FCA's 2025 decisions to ban Woodford from senior management roles and from managing funds for retail investors, and to fine him £5.89 million and Woodford Investment Management £40 million. Both are being challenged.
Sources: Reuters; PA Media
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