The Financial Conduct Authority (FCA) may have made an 'extraordinary blunder' in allowing market sensitive information about its work to reach the public domain ahead of schedule, thereby creating a disorderly market in shares, Treasury Select Committee (TSC) chairman Andrew Tyrie said on Saturday.
Several national media outlets reported on Friday details of an FCA probe into "long-standing" customers in life insurance-type products. The reports appeared to prompt significant falls in the share prices of several life companies, including Aviva, Prudential and Legal & General, which were all among the largest fallers on the FTSE 100 on Friday. Aviva and Partnership were among those to publish statements downplaying the impact of the review on their business models and profits. Later, the FCA published a statement clarifying the scope of its investigation, pointing out it would...
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