FSA's two-phase annuity probe already underway

The FSA confirmed it had been in discussion with industry about the review throughout January. It confirmed the review will be in two phases over the course of the year, so will be work carried on by the Financial Conduct Authority (FCA) when it forms in April. Nick Poyntz-Wright, head of life insurance, FSA said: "The FCA has set out its vision to make sure markets work well so consumers get a fair deal. An annuity purchase is an important one off decision that has long term consequences for individuals if they get it wrong. "We want to understand the level of the potential detrim...