Fund manager Neil Woodford and his company Woodford Investment Management are to challenge the FCA’s findings on the management of liquidity for the Woodford Equity Income Fund, according to their lawyers.

The FCA has today published a warning notice against Neil Woodford and Woodford Investment Management alongside its findings against Link Fund Solutions.

The number of people struggling to meet financial commitments has fallen by 3.5m since last year, according to new figures published today by the FCA.

The FCA is proposing to increase its minimum and flat rate fees, as well as application fees, by an average 8.75% which could mean Financial Planners facing an overall hike in charges of 4.9%.