Equitable members target FSA for damages
Article Abstract:
Shareholders in Equitable Life are raising questions about why the UK Financial Services Authority did not take action earlier to deal with problems at the company. Equitable's competitors put pressure on regulators for many years to tackle the fact that the firm was greatly underprovisioned.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
Innovation in full flower at RSA's hi-tech hothouse
Article Abstract:
Big firms usually do not innovate, according to Stuart Degg, head of Royal & SunAlliance's technology unit. He believes that this is a particular problem for financial services companies.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
FSA accuses itself of inaction over downfall of Equitable Life
Article Abstract:
Top officials at the UK Financial Services Authority (FSA) were unwilling to become involved in dealing with the problems arising from Equitable Life Assurance Society's obligations to members with guaranteed annuities, according to Ronnie Baird, the organization's director of internal audit. The FSA's mistakes included failing to seek proper financial information in early 1999.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: FSA chairman reveals scale of clash with Equitable over annuity crisis. UK: BRITANNIC REVEALS EVERGREEN PLANS
- Abstracts: Small business is fighting back: big banks face challenges over heavy charges on little firms. UK: INFLATION RATES UNDER PRESSURE
- Abstracts: Royal Bank raises 2bn pounds sterling to double its US presence. UK: RBS HELPS BOOST NATWEST CURRENT ACCOUNTS
- Abstracts: One small lump of rock, one giant debate over some 'definitive proof' that life existed on Mars. Do you have the right stuff to spend two years on Mars? If so, please apply to Nasa
- Abstracts: Mr Blair's dilemma: should he take the risk of supporting our US allies? It's not so special, but it can still be a warm relationship