FCA: insurers are 'undermining' RDR rules

UK finance

UK insurers are "undermining" the Retail Distribution Review (RDR), the push by UK regulators this year to change incentive structures in the financial sector in order to prevent mis-selling, according to a Financial Conduct Authority (FCA) report released today.

The FCA said that its thematic review of the life insurance industry "highlighted serious concerns and a poor management culture in some firms whose actions have the effect of undermining the objectives of the RDR".

The regulator

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