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View the article online at http://citywire.co.uk/wealth-manager/article/a743529

FCA on 'zombie' fund probe: we won't review 30 million policies

by Dylan Lobo on Mar 28, 2014 at 15:02

Market reaction

Insurers have recovered some ground after suffering heavy losses in the morning on the news, which was broken in the Telegraph.

At 2.36pm Legal & General was down 3% at 205p, rallying from a day low of 193p and Aviva was off 3.6% at 465.9p versus a day low of 442.5p

Resolution, which had been hit hardest, had recovered from a low of 266.6p to 290.7p, a loss of 8.9% on the day.

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3 comments so far. Why not have your say?

Anonymous 1 needed this 'off the record'

Mar 28, 2014 at 15:35

Idiots ! If they are NOT going to enforce retrospective changes then why bother ? I can't see how they can possibly review any policy written prior to 1987. All this misguided policy has done is to cause Massive market sell offs. Monkeys and breweries comes to mind

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Badders

Mar 28, 2014 at 16:31

Perhaps they should probe themselves for causing false markets.

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sgjhaghsdg

Mar 28, 2014 at 18:22

I've moved multiple pensions, SIPPs and S&S ISA accounts on a fair few occasions and am in the middle of another round of changes.

Why are people prepared to switch energy suppliers but leave pensions and other investments to moulder?

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