Prudential sets aside £175m for review of non-advised annuity sales

The regulator last year undertook a review of non-advised annuity sales and expressed concern a "small number" of firms were likely to have sold standard annuities to customers when they were eligible for an enhanced product. The FCA said those who were asked to review their non-advised sales of the last eight years will have to provide redress where appropriate. The regulator did not specify which or how many firms were asked to review their sales. Last month Prudential disclosed it was one of the firms asked by the FCA to review its sales. The £175m provision ate into the provide...