The UK regulator did not intervene until two years after issues were raised
Not-so-shocking revelation this week, as it appears the FCA was warned about problems with Woodford’s investment business less than a year after it opened in 2014 – yet did nothing. It’s another timely reminder of the authorities failings in recent years, as it continues to drop the ball and takes an age to put any effective measures in place. Perhaps unsurprisingly, Woodford has now set his eyes on Jersey.
This pandemic has seen fraud rise to new levels, and in the absence of any effective enforcement or regulation, it now lies in the hands of consumers to protect themselves. It’s vital that consumers know how to spot fraudulent offers, and are able to take swift action when finding themselves on the receiving end of a scam. Read the full story below.