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UK FCA ‘recognizes frustration’ in delay to Woodford investigation

( January 11, 2023, 10:41 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority has told lawmakers in a letter that it recognizes the public interest into its investigation of the suspension of the LF Woodford Equity Income Fund. This remains a priority for the FCA, its chief executive told lawmakers in UK Parliament's Treasury Committee, in a letter sent on Dec. 14 and published today. "This is a complex investigation involving multiple parties," Nikhil Rathi wrote, adding that the authority understands that "the time taken to investigate and review material causes frustration among those affected and who are, understandably, looking for answers." The FCA has been investigating the incident since 2019, after the Woodford fund failed, leaving hundreds of thousands of investors with losses.Statement follows. Letter attached....

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