Be proactive through product life cycle, FCA warns advisers

The finalised guidance, published today, provides firms with detailed information on the actions they should be taking to treat their closed-book customers fairly. The FCA emphasised it was not introducing new rules but expected the guidance would "help firms know what we expect of them to ensure their customers are treated fairly going forwards". The regulator added it wanted to ensure closed-book customers - those with life insurance products that are closed to new business - are treated fairly and do not receive less attention than customers who have recently taken out a new produc...