30m financial policies to be probed
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The City watchdog has confirmed plans for an inquiry into 30 million financial policies sold between the 1970s and the turn of the millennium amid fears over "rip off" charges and sub-standard service.
The Financial Conduct Authority (FCA) said it was investigating policies worth around £150 billion, sending shares in insurance firms slumping into the red once more after a torrid past week for the sector.