December 9, 2016 / 10:13 AM / 8 months ago

BRIEF-UK's FCA publishes guides for fair-treatment of closed-book customers

Dec 9 (Reuters) - UK's Financial Conduct Authority:

* Publishes finalised guidance for the fair-treatment of closed-book customers

* "We are not introducing new rules, guidance will help firms know what we expect of them to ensure their customers are treated fairly going forwards."

* Firms are expected to review their business practices within 3 months of today's date and, if necessary, make changes to them in light of guidance.

* Wants to ensure that closed-book customers are treated fairly and do not receive less attention than customers who have recently taken out new product

* Products covered by the guidance are personal pensions, endowments, investment bonds and whole-of-life policies Source text for Eikon: (bit.ly/2hdWmRo) (Bengaluru Newsroom)

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