Member Article

FCA to probe 30 million financial policies

The Financial Conduct Authority will probe around 30 million financial products sold between the 1970s and 2000s as part of an investigation into unfair conditions for customers.

According to The Daily Telegraph, the FCA’s inquiry will centre around the use of returns from so-called “zombie funds” to service other parts of pension businesses.

The Authority is also said to be concerned with the treatment of longstanding policy holders, who it believes are neglected while new customers are viewed as a priority.

This was posted in Bdaily's Members' News section by Tom Keighley .