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FSA welcomes compromise vote

The FSA has called the successful vote of the Equitable compromise by its members a “good step”.

FSA managing director consumer, investment and insurance directorate John Tiner says the result offers the best chance to achieve stability to the with-profits fund.

Tiner says: “We firmly believe that a successful compromise offers the best prospect of bringing stability to the with-profits fund and improving the outlook for worried policyholders. So today&#39s outcome is good news. The next step is for the Court to decide whether to approve the scheme, taking into account any representations made.”

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