Summary
This Report, 'Equitable Life: A Decade of Regulatory Failure' (HC 815), presents the findings of the second investigation by the Parliamentary Ombudsman into the prudential regulation of The Equitable Life Assurance Society during the period prior to 1 December 2001.
The terms of reference for that investigation were:
"To determine whether individuals were caused an injustice through maladministration in the period prior to December 2001 on the part of the public bodies responsible for the prudential regulation of the Equitable Life Assurance Society and / or the Government Actuary's Department; and to recommend appropriate redress for any injustice so caused."
The report contains the Ombudsman's findings as to: whether maladministration occurred; if so, whether any such maladministration resulted in injustice; and, if it did, what an appropriate remedy might be.
Divided into five volumes, the contents of the Report include:
- Summary report (which includes a CD-ROM containing electronic versions of all five parts of the report).
- Part 1: main report (including findings).
- Part 2: the relevant regulatory regime.
- Part 3: chronology of events.
- Part 4: primary and secondary document.
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