LONDON Feb 13 Santander's UK arm said
on Wednesday it is reviewing the future of its bancassurance
division, putting around 800 jobs at risk, potentially adding to
thousands of staff cuts as banks address new rules clamping
down on investment advice.
Santander suspended its investment advice service in
December and pulled its advisers "off the road" for more
training as tougher new rules were introduced aimed at making
financial advice more transparent for customers.
Separately the FSA said on Wednesday it was investigating a
major UK lender for possible breaches in the quality of its
investment advice, which four industry sources said was
(Reporting by Steve Slater; Editing by Kirstin Ridley)