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View the article online at http://citywire.co.uk/wealth-manager/article/a744243

Osborne warns of disciplinary action post-FCA zombie fund fiasco

by Danielle Levy on Apr 02, 2014 at 07:31

Investors dumped insurance shares on the reports and an increasingly anxious L&G - which was among the heaviest hit - issued a stock exchange statement demanding clarification on the plans as the market became increasingly 'disorderley'

The regulator eventually issued a statement in the afternoon stressing the investigation would not be as wide-ranging as feared and that modern rules would not be imposed retrospectively.

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2 comments so far. Why not have your say?

PCIAM

Apr 02, 2014 at 09:29

Hmm.

Should they revisit the FSA's outspoken assault in late 2011 on life settlement funds? Remember the original (but redacted shortly afterwards) release - "all the hallmarks of Ponzi schemes", toxic investments"? The author resigned subsequently and allegedly took up a job with one of the auditors of a company that sold such funds.

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Tonto

Apr 02, 2014 at 13:57

Whereas Gideon's rhetoric about no one ever having to buy an annuity did no harm to Partnership's share price...........oh wait......

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