Former star fund manager and company fined £46m

Former star fund manager Neil Woodford and his firm fined £46m by UK financial watchdog, FCA, for mismanagement leading to collapse of Woodford Equity Income Fund in 2019. With 300,000 investors affected, FCA provisionally fined Woodford nearly £6m and banned him from senior roles and managing non-professional funds, while imposing a £40m fine on Woodford Investment Management. Woodford and his firm are appealing the decisions as FCA found they made inappropriate investment decisions leading to fund's suspension.