Members of the European Parliament’s committee of inquiry into the collapse of Equitable Life have asked for a threemonth extension due to the complexity of the evidence.
The committee was set up in January 2006 and given one year to report, with a further extension until April 2007 to take into account the UK Parliamentary Ombudsman’s report into Equitable’s collapse.
But UK Parliamentary Ombudsman Ann Abraham announced in the autumn that her own inquiry was to be delayed again until at least May 2007, taking the total length of her work to almost three years.
The further delay was caused when her team found that potentially vital information was missing from evidence given to the ombudsman.
The committee aims to publish its final report in time to table it to the parliament before the summer break.
A statement says: “At Tuesday’s meeting, MEPs decided to ask the president of parliament for a further three-month extension of the committee’s mandate. The amount of evidence being analysed, together with the complexity of the issues, mean that more time is needed.”