Standard Life referred to FCA enforcement over non-advised annuities

‘Known issue’ during acquisition

Hannah Godfrey
clock • 2 min read

Standard Life has been referred to the Financial Conduct Authority (FCA) enforcement division over issues identified around its non-advised annuity sales.

Standard Life, which was acquired by Phoenix Group in a multi-billion pound deal last year, was referred to the FCA's enforcement arm because of issues identified in the regulator's thematic review on non-advised annuity sales. Phoenix's annual results, published on Tuesday, said: "Standard Life was referred to the FCA enforcement division to consider whether any of the issues identified in the thematic review on non-advised annuities sales warranted further intervention and we continue to work with the FCA on the ongoing investigation." Phoenix said the review was a known issue when ...

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