The details of how the government scheme to make payments to Equitable Life policyholders will work have been published by Mark Hoban MP, Financial Secretary to the Treasury.
In line with the Financial Secretary’s ambition to start making payments by the middle of this year, the scheme is...
The details of how the Government scheme to make payments to Equitable Life policyholders will work have been published by Mark Hoban MP, Financial Secretary to the Treasury.
In line with the Financial Secretary’s ambition to start making payments by the middle of this year, the Scheme...
Equitable Life (which was forced to close to new business in 2000) is making the first step towards the distribution of capital to its 400,000 policyholders.
Having rebuilt its capital position, Equitable Life has earmarked 12.5% of policy values as at 31 December 2010 to enhance payments for...
The Financial Services Authority (FSA) has fined Scottish Equitable £2.8m for causing significant consumer detriment through poor administrative procedures. Scottish Equitable will pay compensation of about £60m to policyholders, of which £30m will have been paid by...
Marking the final chapter in this harrowing saga, the government has announced that it will make £1.5bn available for the Equitable Life Payments Scheme, £1bn of which will paid out upfront in the first three years of the Spending Review.
The figure is based on the relative...
Equitable Life – progress towards the compensation scheme
Following the publication, in July 2008, of the highly critical report on the Equitable affair by the Parliamentary Ombudsman (PO), a series of events culminated in a judicial review funded by the Equitable Members Action Group (EMAG). A judgment has now been made on this and the government has...
