FCA has issued an information request to many firms that carry on with-profits business. It is carrying out a multi-firm review of the sector, focussing particularly on fair treatment of with-profits customers. One of FCA’s key concerns is to determine how features such as smoothing and guarantees are used. It says it has no preconceived ideas about what may be unfair or lead to unfair outcomes, nor whether customers are being unfairly treated. Once FCA has gathered the information, it will start the review – either late this year or early next.
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"Womble Bond Dickinson", the “law firm” or the "firm" refers to the network of member firms of Womble Bond Dickinson (International) Limited, consisting of Womble Bond Dickinson (UK) LLP and Womble Bond Dickinson (US) LLP. Each of Womble Bond Dickinson (UK) LLP and Womble Bond Dickinson (US) LLP is a separate legal entity operating as an independent law firm. Womble Bond Dickinson (International) Limited does not practice law. Please see www.womblebonddickinson.com/legal-notices for further details. womblebonddickinson.com