FCA to investigate 30 million financial policies

The investigation will include pensions, endowments, investment bonds and life insurance policies sold in the UK between the 1970s and 2000, the BBC reports. The FCA will look into policies which penalise savers who want to switch providers. The regulator told the Daily Telegraph it might "intervene on exit charges". A large number of policies sold to consumers in the 30 years leading to the millennium include terms which penalise those attempting to switch to a cheaper provider. Some savers face losing up to half of their savings if they move to another company. The FCA also...