Day: 4 October 2019

FCA fines Prudential £24m for failures related to non-advised sales of annuities

Leave a Comment / Enforcement and redress, FCA conduct requirements / By

The Financial Conduct Authority (FCA) has fined the Prudential Assurance Company Limited (Prudential) £23,875,000 for failures related to non-advised sales of annuities.  Between July 2008 and September 2017, Prudential’s non-advised annuity business focused on selling annuities directly to existing Prudential pension holders. Firms are required to explain to customers that they may get a better …

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The Financial Conduct Authority consults on changes to guidance for closed-ended investment funds

Leave a Comment / Financial services weekly highlights, Investment funds and asset management / By

The Financial Conduct Authority (FCA) has issued a guidance consultation (GC19/4) on changes that it proposes to make to the Knowledge Base, its repository of non-handbook commentary that has the status of formal FCA guidance. The FCA proposes to amend its existing technical note on master-feeder structures (FCA/TN/409.1) and add a new technical note on …

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