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Equitable faces payout to 1,500

Equitable Life may have to pay compensation to 1,500 policyholders after a lead case was upheld by the Financial Ombudsman Service last week.

The ruling concludes that the firm knowingly issued bad advice to “late joiner” policyholder “Ms E” who signed up after September 1998 when the firm was already aware of its financial difficulties. Under the ruling, Equitable Life will have to pay compensation to Ms E which is likely to attract 1,500 policyholders in the same position.

Equitable Life spokes-man Alistair Dunbar says the ruling flies in the face of adv-ice received by lawyers and the FSA and a decision on whether to appeal will be made in the next few months.


Service double faults

Brokers berating life offices for poor service should consider the quality of business that they submit.

Childcare Corporation rises again

Smith & Williamson has introduced Childcare Corporation 8, an enterprise investment scheme that aims to raise money for the building and operation of around three more purpose-built children’s nurseries in the UK.This EIS takes up the objectives of the previous seven Childcare Corporation schemes by providing private day-care facilities for children aged between three months […]

Where next for the price of oil?

Having stabilised at around $65 a barrel, many investors are questioning if the price of oil will rise, and when. Richard Hulf provides his view. Richard Hulf, manager of the Artemis Global Energy Fund, sets out his thoughts about how the oil price may move through the next six months. At the start of the […]


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