Partnership faces FCA investigation over inducements

clock

Enhanced annuity specialist Partnership Assurance is thought to be one of the two companies the Financial Conduct Authority (FCA) is considering taking action against for inducement breaches, according to reports.

The regulator yesterday released data showing breaches of inducement rules were still common between advisers and providers. The FCA said two firms had been referred to its enforcement division over the issue but did not name them. However, the FT said sources close to the matter said Partnership was one of them. In a statement, the company said: "As a matter of policy, we never comment on communications between ourselves and the Prudential Regulatory Authority or FCA." The FT reports inducements the FCA was concerned about included overseas hospitality events, paying for conferenc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Retirement income advice: FCA finds 'mixed picture' among case files

Retirement income advice: FCA finds 'mixed picture' among case files

Regulator published outcome of thematic review into retirement income advice

Jenna Brown
clock 20 March 2024 • 5 min read
FCA tells IFAs to review retirement income advice processes

FCA tells IFAs to review retirement income advice processes

Comes after regulator’s thematic review of retirement income advice

Jenna Brown
clock 20 March 2024 • 2 min read
Addressing the 'regulatory timebomb' of income security

Addressing the 'regulatory timebomb' of income security

'Advisers remain concerned about the levels of withdrawals'

Kevin Carr and Matt Morris
clock 19 February 2024 • 4 min read