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UK's Treasury Committee Publishes Hargreaves CEO Response To Nicky Morgan's Letter


Wednesday, 19 Jun 2019 04:45am EDT 

June 19 (Reuters) - UK's Treasury Committee::UK'S TREASURY COMMITTEE - PUBLISHED LETTER FROM CHRIS HILL, CEO HARGREAVES LANSDOWN, IN RESPONSE TO LETTER FROM NICKY MORGAN.UK'S TREASURY COMMITTEE - LETTER FROM NICKY MORGAN WAS ABOUT HARGRAVES LANSDOWN'S LINKS TO SUSPENDED WOODFORD FUND.TREASURY COMMITTEE- HARGRAVES CEO IN LETTER SAID THERE WERE 133,769 HARGREAVES LANSDOWN CLIENTS WITH DIRECT EXPOSURE TO LF WOODFORD EQUITY INCOME.TREASURY COMMITTEE - HARGREAVES CEO IN LETTER SAID CLIENTS, WHO HAVE EXPOSURE TO SUSPENDED FUND, OWN UNITS WORTH £1,091M.TREASURY COMMITTEE - HARGREAVES CEO IN LETTER SAID TOTAL NUMBER OF DIRECTLY, INDIRECTLY EXPOSED TO SUSPENDED FUND WERE 291,520.TREASURY COMMITTEE- HARGREAVES CEO IN LETTER SAID SINCE INCLUDING FUND ON LIST, HAVE MET, TELECONFERENCED WITH NEIL WOODFORD, TEAM 31 TIMES TO DISCUSS PORTFOLIO, INVESTMENT PROCESS.TREASURY COMMITTEE- HARGREAVES CEO IN LETTER SAID BELIEVES WOODFORD SHOULD SUSPEND COLLECTING FEES WHILST CLIENTS CANNOT ACCESS THEIR INVESTMENTS. 

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