Penrose report out on Monday
Lord Penrose's 800-page report into the collapse of life assurance firm Equitable Life will be published on Monday 8th March, the Treasury has confirmed.
‘The Treasury will publish Lord Penrose’s report into Equitable Life on Monday. We will publish the report in full,’ chancellor Gordon Brown told parliament today.
Big Four firm, Ernst & Young, auditors of the mutual at the time, is expected to escape censure from the report, but government departments and the Financial Services Authority are likely to be heavily criticised.