Woodford - Update on PII
In October IFAC advised firms on the process for notifying Woodford holdings as a potential circumstance
Now in November we can relay a couple of items that have come up since.
We have been promised an update from Howdens…and it is now overdue.
We have had a number of intimation of claims, but no actual “Formal claim” yet.
When dealing with these emerging crises, it is important that you bring a long of people, at least initially, along the road with you – PII, IFAC and platforms/models.
The very worst approach to take is the roll up your sleeves and “I’ll take the lead on this one” approach, that is more suited to a different sort of crisis – perhaps your elderly client being unable to write a cheque for half a million due to Parkinson's disease. (It happened to me once - before electronic banking was invented!) Charlie.firstname.lastname@example.org
see more here https://ifac.eu/news/view.php?news_id=374