FSA launches drawdown advice probe

The regulator has written to advisory firms to check they are following the new rules around drawdown which came into force in April this year. An electronic questionnaire has been sent to firms which must be completed and returned by 30 November. An FSA spokesperson could not confirm how many firms have been approached. The questionnaire is not in response to any particular concerns about drawdown advice but is a trend-monitoring exercise, the spokesperson said. Any further action on drawdown advice will depend on the outcome of the exercise, the regulator said. The question...