The Financial Conduct Authority (FCA) has said it will look at transparency around exit charges from closed-book providers but advisers say the investigation shows the regulator is "behind the curve" on preventing consumer detriment.
The regulator's thematic review, released on 3 March, found problems in the way 11 closed book providers treated their customers. In particular, it found cases in which closed-book firms failed to inform...
IHT’s sting in the tail
After independent panels' annual reviews
Due-diligence must be driving force
Huge disparity between charges
Follows Complaints Commissioner reports