The Financial Conduct Authority (FCA) has launched a review of Aviva's handling of plans to cancel £450m of high-yielding preference shares at par value, with the regulator set to make a decision on whether a full market abuse investigation is necessary.
Insurance giant Aviva was forced to abandon its intentions, which would have meant the preference shares will no longer count as regulatory capital in 2026, following pressure from investors. In a letter...
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