![]() ![]() Halifax advisers sold over 380,000 products to more than 239,000 customers, who invested around £888m and paid £38m in protection premiums.Lloyds TSB advisers sold more than 630,000 products to over 399,000 customers, who invested about £1.2bn and paid £71m in protection premiums. ![]() The FCA’s investigation focused on advised sales of investment products (such as share ISAs) and protection products (such as critical illness or income protection) between 1 January 2010 and 31 March 2012. ![]() Customers do not need to take any action at this stage to be included in the review and they will be contacted by the firm in due course. It is not yet possible to say how much redress will be paid until the firms have identified how many customers are affected. The FCA expects all financial incentive schemes to be designed carefully with good customer outcomes in mind, and the risks they pose must be identified and managed properly.īoth firms have agreed to carry out a review of higher risk advisers’ sales and pay redress where unsuitable sales took place. The FCA has an objective to protect consumers and the changes made by the firms since the investigation will help ensure their customers are treated better in future.
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