On 3 March 2016 the Financial Conduct Authority (FCA) announced investigations into six firms as a result of its thematic review into the fair treatment of long-standing customers.

The FCA has today announced that the investigation into Police Mutual has been closed with no further action.

However, the investigations into Scottish Widows, Prudential, Countrywide Assured, Old Mutual and Abbey Life are continuing and no decisions regarding these firms have been reached by the FCA at this stage.

The regulator stressed that no inferences should be drawn from the closure of the Police Mutual case concerning the continuing investigations.

The FCA said it will update the market when decisions are made regarding the status of the remaining investigations.