UK regulator seeking injunction against Neil Woodford and UAE-based firm

The FCA has started civil proceedings against Neil Woodford and his United Arab Emirates-based firm W4.0.

According to the regulator Woodford and W4.0 are providing regulated investment advice and making financial promotions through subscription-based platform W4.0. without authorisation.

The FCA said the activity breaches sections 19 and 21 of the Financial Services and Markets Act 2000 (FSMA) and is seeking an injunction against Woodford and W4.0 to stop them carrying on the potentially unlawful activities.

W4.0 is the trading name of W Four Point Zero FZE LLC.