FSA steps up with-profits TCF campaign

This follows two thematic reviews carried out by the regulator earlier this year. The first looked at 40 of the largest with-profits firms to see how they provide independent input into their management of with-profits funds to ensure that policyholder interests are considered. The review highlighted a number of issues, including that some companies’ arrangements for independent input did not involve consideration of wider issues that could affect whether policyholders are treated fairly. It also found that firms need to identify and manage any conflicts of interest in a way that they u...