The FCA said it has proposed a penalty of £50 million on Link Fund Services (LFS) – a subsidiary of Link Group – in relation to the on-going Woodford scandal.
This is in addition to redress payments which could total up to £306 million.
The FCA has given Link Group 14 days to respond to the warning notice, which it highlighted is not a final decision.
Unless it chooses to resolve the case by agreement within that period, LFS will be able to challenge the F...