Gina and Alan Miller, among the City's fiercest critics of the UK regulator, have written to the parliament's influential Treasury Select Committee urging it to kick start an independent investigation into the collapse of Neil Woodford's flagship fund — almost two years since the financial watchdog began its probe into the now defunct vehicle.

The Millers, founders of wealth firm SCM Private and the True and Fair Campaign, have penned an open letter to committee members and chair Mel Stride claiming there are “alarming regulatory and public policy implications” arising from news that the former star fund manager is planning an imminent comeback.