June 12, 2018 / 6:17 AM / 10 months ago

FCA ends fair treatment investigation into Scottish Widows

FILE PHOTO: The logo of the Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren/File Photo

LONDON (Reuters) - Britain’s financial markets regulator said on Tuesday it had ended its investigation into Scottish Widows, as part of a thematic review into the fair treatment of longstanding customers in the life insurance sector.

The Financial Conduct Authority said it had concluded there was “insufficient basis for taking any enforcement action”, although it planned to raise a number of issues uncovered as part of the investigation with the firm.

Investigations into Prudential (PRU.L), Countrywide Assured, Old Mutual OML.L and Abbey Life (PHNX.L) were continuing, the FCA said in a statement.

The FCA added that “no inferences should be drawn from closure of Scottish Widows case concerning continuing investigations”.

Reporting by Simon Jessop; editing by Sinead Cruise

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