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)