FCA sues Neil Woodford and W4.0 over unauthorised advice

The UK's Financial Conduct Authority has initiated civil proceedings against former star fund manager Neil Woodford and his company, W4.0, alleging they have been providing regulated investment advice and making financial promotions without authorisation. The regulator announced the action on Monday, June 8, 2026, and is seeking an injunction to halt the activities.

The FCA alleges that Woodford and the subscription-based platform, W4.0, have breached sections 19 and 21 of the Financial Services and Markets Act 2000, which govern the provision of regulated financial services and financial promotions. The platform, accessible via the website w4pz.com, is operated by a parent company, W Four Point Zero FZE LLC, registered in the United Arab Emirates. The FCA contends the unauthorised activities pose a risk to investors who may be misled.

This legal action follows a provisional ban imposed on Woodford last year, which barred him from holding senior manager roles and managing funds for retail investors in the UK. At that time, the regulator also announced plans to fine Woodford nearly £6 million and his former company, Woodford Investment Management, £40 million in relation to the...