With-profits firms face FSA enforcement

The FSA says "acute risk to policy holders" was discovered at the firms during the regulator's with-profits regime review in July 2010. A series of problems were discovered with the firm's with-profits committees. Committees are supposed to scrutinise the running of with-profits regimes on behalf of policyholders and in their best interests. But a spokesperson for the FSA says committees are failing to challenge practices, or are not properly involved in decision-making. The regulator says it will now gather more evidence against the firms and assess whether or not there are cases ...