RegulationCorporate GovernanceMPs told Equitable Life report to be delayed

MPs told Equitable Life report to be delayed

The Parliamentary Ombudsman says she needs more time to publish findings

A parliamentary report into the Equitable Life case has been delayed again
and is now unlikely to appear before October.

The Parliamentary Ombudsman Ann Abraham has been investigating accusations of
regulatory failure leading to the near collapse of the mutual insurer. She has
written to MPs warning them of the new delay, The Guardian reports today.

A government demand for more time to respond to the report’s findings has
been blamed by campaigners for the delay. The Equitable Members Action Group
(Emag) claimed there is evidence yet to emerge which will be embarrassing to the
government.

A special European committee of inquiry is to investigate the role of the
Financial Services authority in the debacle.

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