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Resolution and peers plunge as FCA plans zombie fund probe

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Resolution and peers plunge as FCA plans zombie fund probe

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  • Shares in Resolution and peers tumbled today following reports the FCA is to probe 30 million legacy insurance policies.
  • In particular, the FCA is preparing to act on exit fees from such policies, which currently penalise savers who want to switch providers.
  • Many savers with legacy deals are effectively stuck in some products because of the huge exit penalties – some charge as much as 50% of a person’s investment to leave.

Read the full story here on Investment Week

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