FCA launches non-advised drawdown probe amid consumer protection concerns

The regulator will examine income drawdown alongside other non-advised products, such as annuities, hybrid products, and cash withrawal options, in its new market study the Retirement Outcomes Review launched on 14 July. It will not look at advised sales or access to advice, which is already being covered in work related to the Financial Advice Market Review. The FCA said it wants to understand how consumers and providers are behaving following the government's pension freedom reforms and what effect the reforms had on competition in the market. The probe follows concerns over co...