FSA urges with-profits providers to check TCF

The letter follows reviews of two aspects of the management of with-profits funds which revealed varying standards of funds governance. The regulator has carried out two thematic reviews looking at how firms provide independent input into with-profits funds management and also on closed with-profits funds. Its review into with-profits management found: Some firms' arrangements for independent input did not involve consideration of wider issues that could affect whether policyholders are treated fairly. Firms need to identify and manage any conflicts of interest in the way that the...