Annuity sales soared 46% in 2023 to £5.2bn but only a minority of people took advice before buying one, according to ABI data out today.

Seven out of 10 Claims Management Companies (CMCs) contacted by the FCA in a recent intervention have halted unregulated claims activity.

The Treasury has written to the FCA and other regulators asking them to disclose their strategies on Artificial Intelligence (AI) regulation.

The FCA is to quiz the 20 biggest advice firms about their ongoing advice fees and how they are monitoring implementation of the Consumer Duty.