Securities Law News

Island Exchange Tied to Woodford Stood Up by U.K. Watchdog (1)

July 16, 2019, 1:58 PM

The Guernsey stock exchange says it was stood up by the U.K. regulator when trying to share information on some of the holdings in Neil Woodford’s flagship fund.

The “Financial Conduct Authority failed to show up,” the exchange said in a statement dated July 4 and published by the U.K.’s Treasury Committee July 16. “Eventually, without explanation, an FCA PA called to suggest reorganisation.”

An FCA spokesman said the Guernsey exchange’s account is “a mischaracterization of what happened, involving a misunderstanding between all parties on conference-call details.” A spokesman for the Guernsey-based International Stock Exchange, or TISE, didn’t immediately comment...

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