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Treves could stand as MP to fight for Equitable redress

Equitable Life chairman Vanni Treves has been tipped to stand as an independent MP in an attempt to force the Government to accept the ombudsman’s findings into the collapse of the life office.

Equitable policyholders are believed to be urging Treves, who will retire from the board later this year, to stand as an MP at the next general election.

Policyholders are still being denied compensation from the Government after losing money when the firm collapsed despite Parliamentary Ombudsman Ann Abraham finding the Government and regulators responsible on 10 counts of maladministration. The Government put forward proposals to make ex gratia payments to policyholders disproportionately affected by the collapse.

Liberal Democrat Shadow Chancellor Vince Cable’s early day motion calling for the Government to pay compensation to Equitable Life victims has received 300 signatures from cross-party MPs.

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