Neil Woodford and his investment firm fined almost £46m over fund failings

FCA also bans former star stock picker from holding senior manager roles and managing funds for retail investors

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The former UK star stock picker Neil Woodford and his investment management company have been fined almost £46m by the UK’s financial regulator over the collapse of his popular equity fund.

The Financial Conduct Authority (FCA) has given Woodford a penalty of £5.89m and banned him from holding senior manager roles and managing funds for retail investors and fined Woodford Investment Management (WIM) £40m.