Conduct

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

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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TISA publishes new SM&CR guide for FCA solo-regulated firms

The Investing and Saving Alliance (TISA) working group on the Senior Manager & Certification Regime (SM&CR) has published a guide for solo-regulated firms in advance of the SM&CR extension. TISA does not consider that industry is ready to take the SM&CR into business as usual (BAU) and has therefore published the guide entitled ‘Don’t let …

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