View more on these topics

Judge questions Government claim

The Government failed to back up its claim that the state does not pay compensation for regulatory failure at the Equitable Life judicial review last week, according to the Equitable Life Members Action Group.

As part of last week’s High Court hearing, in the Government’s defence statement, barrister Clive Lewis, QC, said Parliament’s position is that it does not pay compensation for failed financial regulation.

But when pressed by Appeal Court Lord Justice Robert Carnwath to show where Parliament has said this, Lewis was unable to produce any evidence other than a statement made by Work and Pensions Secretary Yvette Cooper in January when she said: “As the House will be aware, Parliament has recognised over many years that it is not generally appropriate for the taxpayer to pay compensation even where there is regulatory failure.”

Emag general secretary Paul Braithwaite, who was present at the High Court hearing, says: “The judge rather made a fool of the Government’s position because he showed that Parliament has not adopted this approach. Clearly, both judges took a dim view because the defence could not substantiate these claims.”


Analysis: Assessing the impact of swine flu

The public is becoming increasing concerned about the effects swine flu will have on their health, but what about the impact on the economy? Since the beginning of the year, the more optimistic commentators were promising a recovery in Britain, albeit a muted one, despite a weakening in the recent market rally. However, some fund […]

Open up the toolbox

You can always tell when a holiday season is approaching. Those nice folk down at Canary Wharf come up with a nice big consultation paper for all of us to read. Who wants to be sitting on the beach reading the latest offering from John Grisham or Matt Beaumont when you can thrill to the joys of CP09/18?

Crime watch

In times of economic uncertainty, firms must be on red alert as some employees may seek extra cash by committing financial crimes such as theft and fraud, money laundering, bribery and corruption, insider dealing or a range of other offences.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm