Spottiswoode slams FSA in with-profits report

Publishing her report today on the reattribution of inherited estates to Aviva with-profits policyholders, Clare Spottiswoode has recommended the deal, but believes regulation means investors get a raw deal. The policyholder advocate has recommended eligible policyholders take up the reattribution cash in exchange for their right to future special distributions of the estate. She says the offer is around five times more than might be paid out in special distributions, and believes many will receive more cash than they would through special distribution over the lifetime of their policy....