Royal London Insurance is to suspend sales of life assurance and pensions after a watchdog inspection.
The Colchester-based company, which has 1.2 million customers and is one of the town's main employers, will cease regular business on Monday for immediate staff re-training.
The news follows a routine inspection by the Personal Investment Authority in January.
Mike Yardley, Royal London chief executive, said today (Friday): "Our priority is to protect the interests of our customers. We have identified the need to raise the standards of our sales force and taken action to ensure this is done swiftly and effectively."
The company - which has 1,656 financial advisers - has revealed that an urgent training course will focus on raising standards of compliance and customer service.
Life assurance and pensions will not be sold until further notice, although the company's general life insurance products will still be available.
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