Prudential fined £23.8m by UK watchdog over annuity sales

Pedro Gonçalves
clock • 1 min read

Insurer Prudential has been fined £23.8m by the Financial Conduct Authority (FCA) for not failures related to non-advised sales of annuities. Britain's markets watchdog said Prudential failed to make sure customers were consistently advised that by shopping around they could get a higher rate on their annuities, which pay pensioners a fixed income for life. The insurer also failed to ensure that documentation used by call handlers was appropriate and failed to monitor calls with customers...

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