FCA ends probe into Partnership distribution deal with adviser

The Financial Conduct Authority (FCA) has discontinued an investigation into whether a distribution deal between Partnership Assurance and an advisory firm contravened its rules on incentives, according to the provider.

The company was told on 19 September last year that the regulator would be looking into the terms of the deal with the unnamed firm. It followed a thematic review by the FCA into arrangements between providers and advisers that could undermine the principles of the Retail Distribution Review (RDR). That probe uncovered some deals which concerned the regulator, and it said at the time two firms faced enforcement action. Partnership Life Assurance Company, a wholly owned subsidiary of Partnership Assurance Group, said the FCA had stopped its investigation into its arrangement, and th...