FCA closes 'long-standing customer' investigation into Police Mutual

Case still open for five other insurers

Julian Marr
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“No inferences should be drawn from the closure of the Police Mutual case concerning the continuing investigations" - FCA
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“No inferences should be drawn from the closure of the Police Mutual case concerning the continuing investigations" - FCA

The Financial Conduct Authority (FCA) has officially closed its investigation into Police Mutual - one of six insurers the regulator referred to its enforcement division last year after it found problems with the way they treated their closed-book life insurance clients.

The investigations into the other five - Abbey Life, Countrywide Assured, Old Mutual, Prudential and Scottish Widows - were continuing, the FCA confirmed. The investigation into Police Mutual had been closed with no further action, it added, before stressing it had reached no decisions regarding the other firms at this stage. In a statement, the regulator said: "No inferences should be drawn from the closure of the Police Mutual case concerning the continuing investigations. The FCA will update...

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