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Should the regulator be held responsible for Equitable Life&#39s closure to new business?

“No because I feel that the general public were fully aware of what they were getting into when they joined Equitable Life.”

Jennifer Storrow, Gee & Company

“It is not the fault of the regulator but the regulations. It is time to act and look at what is gone wrong.”

Colin Jackson, Baronworth (Investment Services)

“The behaviour of the FSA and the Government is less than good. The regulator should accept failure to regulate.”

Charles Levett-Scrivener, Towry Law

“Yes. If the Financial Services Authority is not accountable, then who is?” Alan Northeast, Northeast & Thakrar

“Yes. Any failure of a firm regulated since the original Financial Services Act must imply a failure of regulation to some extent.”

Alistair Lyon, Credenda/IFA Direct

“No, I do not think so. The regulator has enough on its plate without having to check companies finances. I was under the impression the DTI should be looking into this.”

Edwin Kelly & Co, Edwin Kelly

“I don&#39t think it can. Equitable Life needs to be held responsible for sailing so close to the wind for so long and the Department of Trade and Industry for failing to do anything. It must have known something.”

Ian Williams, Marshall Williams & Co

“Yes, they do not seem to have acted in spite of all the newspaper reports about it.”

William Stewart, William Stewart Financial Services

yes 50%

no 50%


A rollercoaster ride of a year comes to a close

The year 2000 will prove to be the one when almost everything changed. Just about any provider that could merge, sell up or demutualise did so. It saw the creation of the country&#39s number one life and pensions office, known as Norwich Union, the number two fund manager in Invesco/Perpetual and the number one network […]

Peter Young is found unfit to face fraud trial

Former Morgan Grenfell fund manager Peter Young, accu sed of committing a £220m fraud in 1996, was found unfit to stand trial at a Southwark Crown Court hearing last week. The two-week hearing heard that Young, who now dresses as a woman and prefers to be called Beth, has attempted to castrate himself several times […]

Nationwide set to allow resolution

Nationwide Building Society is set to permit carpetbaggers to bring a conversion resolution at its annual meeting next year. The board of directors meets this week to decide whether to delay the move but a spokesperson for the building society said the board is “very likely” to allow the resolution. The carpetbagger&#39s campaign is being […]

Nationwide tops public relations survey

Nationwide received more positive comment in the UK national press for the third month in succession and for the fifth month out of six. Nationwide&#39s surprise 0.2 per cent mortgage rate cut meant that they scored more than twice as much as the next placed company, fund managers Fidelity. Its mini cash Isa, credit card, […]

Retirement - thumbnail

Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


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