Conduct remedies should focus on value not price
The UK’s market conduct regulator has concluded a study of retirement products, saying the market is broken and fails to serve customers well. But its response focuses too much on price and too little on other measures of value, argues PwC’s Steve Folkard
On April 1, the UK’s Financial Conduct Authority (FCA) took on new powers to oversee competition in the financial services sector. The new powers coincide with a report from the FCA expressing concerns around competition in the retirement product market. Life Assurers find themselves asking what this now means for their business and how they should respond.
The FCA’s new legal powers give it greater scope to formally investigate, enforce and fine financial services firms for competition breaches
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