View more on these topics

Delay in Ombudsmans report branded disturbing

The announcement of a further delay to the Parliamentary Ombudsmans report into the collapse of Equitable Life has been branded disturbing by the group of MEPs involved in a separate inquiry.
Parliamentary Ombudsman Ann Abraham has written to MPs saying her report will be delayed until at least May next year, taking the total length of the inquiry to nearly three years.
Abraham says in the letter, the further delay has been caused by her team uncovering the fact potentially vital information was missing from the evidence given to it.
Abraham says the evidence was received in July and August and since then the team has been working to analyse the significant number of files and documents.
The letter states Abraham has seen nothing to suggest this was anything other than as a result of a misunderstanding.
Chair of the European Parliament committee looking into the providers collapse Mairead McGuinness says the delay is unfortunate as the committee was relying on Abrahams evidence as part of its own inquiry- due in April 2007.
The Irish MEP says she accepts comments from the Ombudsman that the provision of this missing evidence arose from a misunderstanding but that it does require questions to be answered as to exactly why the misunderstanding arose.
Diana Wallis MEP, who is preparing the committees report says: I am surprised that such extensive and potentially critical information has until now been withheld by the Government. This so-called ‘misunderstanding’ is unfortunate to say the least. The European Parliament’s Committee of Inquiry will consider the implications of this delay at its next meeting in November and will continue to carry out its mandate, regardless of this development.


Lighthouse links up with FSSC

Lighthouse Group has joined the Financial Services Skills Council. The FSSC will work in partnership with the group to provide training, education and skills development for its advisers.

Old Mutual axes five in quant switch

Old Mutual Asset Managers has axed five fund managers in an overhaul that will see the group’s quants team take on a greater investment role. UK select large cap and UK select equity fund manager Richard Moore will be replaced by the group’s quantitive strategies team although Ashton Bradbury and Luke Kerr will continue to […]

Waste not

It continually amazes me the amount of waste that my household produces. Even though I use the colour-coded bins provided by the council and make regular trips to the recycling tip, the amount to be collected by my friendly binpeople is, in my mind, far too much.

Full Marx for tragedy

Back in my youth, I used to read the odd bit of Karl Marx. It was Marx who remarked that historical events have a way of repeating themselves, “the first time as tragedy, the second as farce.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm