Partnership Assurance Group PLC FCA investigation conclusion (3109V)
October 27 2014 - 3:00AM
UK Regulatory
TIDMPA.
RNS Number : 3109V
Partnership Assurance Group PLC
27 October 2014
27 October 2014
FCA investigation conclusion
Partnership Assurance Group plc announces that it has received
confirmation from the Financial Conduct Authority ('FCA') that the
regulator has discontinued its investigation in relation to a
distribution agreement and that no further action will be taken at
this time.
On 19 September 2013, Partnership Life Assurance Company Limited
('PLACL', a wholly owned subsidiary of Partnership Assurance Group
plc) was notified that the FCA would be conducting an investigation
into its distribution agreement with one advisory firm. The
investigation sought to determine whether PLACL had contravened any
FCA rules, including those which were introduced by the Retail
Distribution Review ('RDR').
Steve Groves, Chief Executive Officer, commented,
"I am pleased to report that after over a year, the FCA has
concluded its investigation and that no further action will be
taken. As we said at the time of being notified of the
investigation, we are supportive of the principles of the RDR,
confident that our distribution agreements are compliant with the
FCA rules and remain committed to acting in the best interests of
our customers."
Enquiries
Investors: Media:
Katherine Jones Jim Boyd Citigate Dewe Rogerson
Director of Investor Director of Corporate Grant Ringshaw,
Relations Affairs Shelly Chadda
+44 (0) 207 444 4080 +44 (0) 207 618 2744 +44 (0) 207 638
katherine.jones@partnership.co.uk pressoffice@partnership.co.uk 9571
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