Link Fund Solutions Limited (LFSL) says it expects to begin making payments under a £230m redress scheme to Woodford investors in the first quarter of 2024.

Four years after the suspension of the Woodford Equity Income Fund, the FCA’s Therese Chambers has written to the estimated 300,000 investors to urge them to vote on the redress proposals.

The Financial Conduct Authority has issued Link Fund Solutions a draft Warning Notice with a proposed penalty of £50m over its handling of the LF Woodford Equity Income Fund.

The Financial Conduct Authority is likely to impose a financial penalty of £306m on Link Fund Solutions (LFS) for failings on its management of the failed LF Woodford Equity Income Fund.