Financial Conduct Authority chief executive Andrew Bailey has said the regulator will be looking at whether Hargreaves Lansdown should have removed the suspended Woodford Equity Investment Fund from its “best buy” list sooner.
Mr Bailey, a witness before the Treasury Committee this morning (25 June), said the FCA had on a number of occasions looked at the issue of platforms that are not regulated to provide advice nonetheless issuing “recommended” buy lists.
He said an FCA review in 2015 resulted in Hargreaves being told it needed to change the governance of such lists, including its Wealth 50. The Woodford Equi...