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European Equitable Life committee to unveil report in April

The European Parliament’s committee into the collapse of Equitable Life has delivered the first draft of its report which will be made public at its next meeting in April.
The report was unveiled to the committee by British Liberal MEP Diana Wallis and members will now submit suggestions for change before the report is made public on April 11.
The inquiry has looked into whether EU insurance legislation was correctly implemented in Britain and what recommendations can be made for the future.
It has heard criticism of the role played by the Treasury, FSA and Financial Ombudsman Service.
UK Parliamentary Ombudsman Ann Abraham will publish her report before the Summer recess and leaks suggest it will find the Government guilty of failing to properly regulate the provider.

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