The FCA has started civil proceedings against Mr Neil Woodford and W4.0.
The FCA alleges that Mr Woodford and W4.0 are providing regulated investment advice and making financial promotions through the subscription-based platform, www.w4pz.com[1], without authorisation.
In the FCA’s view, the activity breaches sections 19 and 21 of the Financial Services and Markets Act 2000 (FSMA).
The FCA is seeking an injunction against Mr 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 and is registered in the United Arab Emirates.