The Financial Conduct Authority (FCA) is to further examine the non-advised drawdown market amid concerns consumers are not making well-informed decisions on higher-risk products.
The regulator will examine income drawdown alongside other non-advised products, such as annuities, hybrid products, and cash withrawal options, in its new market study the Retirement Outcomes Review launched on 14 July. It will not look at advised sales or access to advice, which is already being covered in work related to the Financial Advice Market Review. The FCA said it wants to understand how consumers and providers are behaving following the government's pension freedom reforms and what effect the reforms had on competition in the market. The probe follows concerns over co...
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