The Financial Conduct Authority has confirmed it has launched an investigation into the suspension of the LF Woodford Equity Income Fund.
In a letter to Treasury Committee chair Nicky Morgan, FCA chief executive Andrew Bailey said the regulator had previously been in contact with the fund in February and March 2018 in relation to two breaches of the 10 percent limit on unlisted securities.
Dealing in the £3.7 billion fund was suspended on 3 June following a rush in redemptions, amid appare...