Equitable Life chairman Vanni Treves today called on the Parliamentary Ombudsman to reopen an inquiry into the stricken society saying she must now investigate regulatory maladministration.
Speaking at the society's annual meeting in London, Treves described Lord Penrose's report as a “litany of failure by the regulatory regime and former management.”
Treves said: “The moral case for an investigation is compelling. Penrose has provided Ann Abraham with the necessary ammunition and she must now fire the starting gun for a new enquiry to begin. I am confident she will reopen and that she now represents the best chance for compensation.”