Neil Woodford is under pressure to have his Commander of the Order of the British Empire (CBE) honor revoked following a harsh ruling from the Financial Conduct Authority (FCA). The FCA imposed a fine of £5,888,800 on Woodford and prohibited him from holding senior management roles. Woodford Investment Management, his former firm, received a substantial £40 million fine. A letter from campaign groups argues that Woodford's actions caused significant harm to many investors and undermined trust in the investment sector, justifying the revocation of his honor.
"This scandal is obviously a matter of great public interest - hundreds of thousands of people have been directly impacted by it, many having lost life-changing amounts of money."
"The scandal indubitably impacted the reputational integrity of the UK's investment sector as a whole, with inevitable adverse effects on trust and confidence in investing."
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