No systemic failure in enhanced annuity sales - FCA review

Indeed, its thematic review of non-advised annuity sales practices concluded many of the firms reviewed had provided "clear and comprehensive information to customers with written communication tending to meet the standards required". In some instances, however - when "significant communications took place orally, normally over the phone" - the regulator suggested this was likely to have caused some customers to purchase a standard annuity when they might have been eligible for an enhanced product. The FCA said these failings were of sufficient concern at a small number of firms they ...