• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      event logo
      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Investments

Jersey regulator says new Woodford firm has not applied for authorisation

Jersey regulator says new Woodford firm has not applied for authorisation
  • Pedro Goncalves
  • 18 February 2021
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

The Jersey Financial Services Commission has not yet received an authorisation application from WCM Partners, the new investment management firm planned by Neil Woodford.

"The JFSC is disappointed to see this announcement in advance of either receiving or processing any application from this company for authorisation to conduct licensed business as an investment management firm in Jersey," the financial services watchdog said in a statement.

Related articles

  • FCA partners with Jersey regulator to probe new Woodford venture
  • Jersey reveals policy on beneficial ownership registry
  • Jersey adds beneficial ownership compliance regtech tool
  • Three further charges brought against Lumiere Wealth’s Byrne

"It would be normal practice when making such an announcement to make it clear that it is 'subject to regulatory approval'."

The JFSC is disappointed to see this announcement in advance of either receiving or processing any application from this company for authorisation to conduct licensed business as an investment management firm in Jersey," JFSC statement

WCM Partners

However, the trading name WCM Partners has been reserved in the Jersey Registry, the regulator added.

The stockpicker infuriated investors after he said on Saturday he was preparing to launch a Jersey-based biotech fund despite the FCA's ongoing investigation into the circumstances leading up to the suspension of Woodford's flagship fund in June 2019.

The FCA said in a statement that its investigation was "progressing" but had been hampered by the pandemic. It had also contacted the Jersey regulator following reports that Woodford's new business would operate from there.

"In taking any decision on whether to authorize a firm, we consider whether it is ready, willing and organized to comply, on a continuing basis, with our requirements and standards," Mark Steward, FCA's director of enforcement and market oversight, said.

Fitness

"That includes, for example, the sustainability of the firm's business model and the fitness of its management."

Woodford revealed in an interview with the The Sunday Telegraph at the weekend that he plans to establish a new venture, Woodford Capital Management Partners, in Jersey. However, unlike his previous funds, it would cater to professional investors only.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Investments

More on Investments

US female investors reluctant to pay a financial adviser - report

  • Investments
  • 18 February 2021
CISI launches anti-money laundering partnership with Qatari regulator

  • Regulation
  • 16 February 2021
Cyprus tells investment summit it's in 'prime position' for EU markets access

  • Investments
  • 05 February 2021
EFAMA urges 12-month extension to implenting new PRIIPS rules

  • Regulation
  • 04 February 2021
Ride the Biden Bounce, but judiciously, deVere chief warns investors

  • Capital Markets
  • 19 January 2021
Back to Top

Most read

Global UHNWI population to grow by 27% over the next five years: Knight Frank
Global UHNWI population to grow by 27% over the next five years: Knight Frank
Amati Global Investors launches strategic metals fund
Amati Global Investors launches strategic metals fund
Aviva announces exit from Turkey
Aviva announces exit from Turkey
People moves: Phoenix Group, Franklin Templeton, TMF Group, AJ Bell, Arete, Just Group
People moves: Phoenix Group, Franklin Templeton, TMF Group, AJ Bell, Arete, Just Group
HSBC Malaysia appoints head of global banking
HSBC Malaysia appoints head of global banking
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading