The Financial Conduct Authority said on Monday it had started civil proceedings against former fund manager Neil Woodford and W4.0, alleging they are providing regulated investment advice and making unauthorised financial promotions through the subscription platform w4pz.com.
The regulator said the activity breaches sections 19 and 21 of the Financial Services and Markets Act 2000, which cover carrying on regulated activity and making financial promotions without authorisation. It is seeking an injunction to stop the allegedly unlawful activity.
W4.0 is the trading name of W Four Point Zero FZE LLC, registered in the United Arab Emirates. The platform’s own site materials describe subscription access to “Neil’s investment strategies, market insight, and a private community of like-minded investors,” alongside a free tier, podcast, and quarterly Q&A.
WEIF background
The proceedings add to ongoing FCA scrutiny of Woodford. In August 2025, the regulator said it had decided to fine Woodford £5,888,800 and ban him from senior manager roles, while fining Woodford Investment Management £40,000,000 over failures managing the Woodford Equity Income Fund. Both decision notices were referred to the Upper Tribunal and remain provisional.
