The FCA has discontinued its investigation into whether Partnership struck a distribution deal with an advice firm which undermined the RDR.
Partnership announced last September that the regulator had appointed investigators to analyse the deal.
The statement came after the FCA revealed two firms could face enforcement action after a review which found arrangements between providers and advice firms which could go against the RDR.
The thematic review examined 80 agreements and found just over half of the firms had deals in place which could breach inducement rules.
But in a statement to the stockmarket this morning, Partnership chief executive Steve Groves says: “I am pleased to report that after over a year, the FCA has concluded its investigation and that no further action will be taken. As we said at the time of being notified of the investigation, we are supportive of the principles of the RDR, confident that our distribution agreements are compliant with the FCA rules and remain committed to acting in the best interests of our customers.”
Partnership also has a distribution relationship with Sesame, alongside a number of other adviser firms.
It is not known which other firm the FCA is investigating as part of its review into distribution deals, or what stage the investigation is at.
The FCA confirmed it had concluded its investigation into Partnership but declined to comment further.