FCA statement on supervisory work on the fair treatment of long standing customers in life insurance

The FCA Board acknowledges the concerns of the market regarding today’s press coverage of the FCA’s proposed supervisory work on the fair treatment of long standing customers in life insurance. The FCA put out a statement of clarification this afternoon. The Board will conduct an investigation into the FCA’s handling of the issue involving an external law firm, and will share the outcome of this work in due course.