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Parliamentary Ombudsman to reopen Equitable inquiry

The Parliamentary Ombudsman is reopening its investigation into the role of regulators in the Equitable Life debacle.

Parliamentary Ombudsman Ann Abraham will investigate whether there was maladministration by regulators in the period prior to December 2, 2001, and is asking for the Government Actuary&#39s Department to be brought within her jurisdiction for the purposes of the investigation.

Abraham says: “The concerns surrounding the prudential regulation of Equitable Life remain despite the publication of the Penrose Report and the Government&#39s response to it. I took the view that I should consider whether a new investigation by my office was justified as Lord Penrose did not deal with questions of maladministration or redress.”


Pearl and Prudential in annuity deal

Pearl personal pension customers will have access to a Prudential annuity when their plan matures under an agreement announced by the two providers today. Under the agreement that will run for five years, Pearl customers will be offered the same annuity rate Prudential currently offers through IFAs. Prudential UK director of corporate partnerships Isabel Hudson […]

Skipton Building Society – Flexible 3 Year Stepped Discount

Type: Flexible stepped discounted-rate mortgage Discounted term: Three years Discount: 2.65% in year one, 0.25% in years two and three Payable rate: 3.19% Minimum loan: £5,000 Maximum loan: Up to 95% of valuation subject to a maximum of £200,000, up to 90% of valuation subject to a maximum of £300,000, up to 85% of valuation […]


The Diary would like to thank Intelligent Marketing for its misspelling of the name of the chimp-in-chief of this esteemed organ. A communication addressed to Jim Nappin caused a ripple of amusement across the newsdesk this week. Other misnomers have included mail addressed to MM journos past and present Adrian Cummidge and Corey Bowels. Keep […]

Abraham reopens Equitable inquiry with GAD warning

The number of IFAs able to get professional indemnity insurance has increased, according to figures from the FSA. The monthly figures normally show that around 700 firms do not have cover but June&#39s figures showed a fall of nearly a third to about 500. Aifa director of policy Fay Goddard believes the fall is due […]

Image courtesy of Stuart Miles at

Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.


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