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Equitable chief wants Treasury to speed FSA review

Equitable Life chairman Vanni Treves has called on the Treasury to speed up the publication of the FSA&#39s internal review of its handling of the Equitable affair.

Speaking at the launch of Equitable&#39s compromise deal last week, Treves said he “hoped it would not be too long” before the outcome of the FSA review was released.

He said its conclusions on the role of the regulator in Equitable&#39s demise were vital to the work of Herbert Smith, the lawyers appointed by Equitable to investigate the actions of former directors and advisers.

Equitable has said this investigation will not stop at the regulator and everyone involved will come under scrutiny. But before embarking on a complex and expensive process of investigating the regulator, Equitable wants to see the FSA&#39s findings.

The report was due out this summer and the FSA says the report will be with the Treasury imminently. Fears it may never be published were raised when the Treasury announced its own inquiry headed by Lord Penrose.

The FSA says it wants to see the report published as soon as possible although it is for the Treasury to decide whether to make the report public and it is not expected to be published until Penrose reports.

FSA spokesman Vernon Everitt says: “The question of publication lies with the Treasury. We want it published and in the public domain as quickly as possible.”

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