Inequitable Decision By Equitable Life - Cable
4.20.00pm BST (GMT +0100) Wed 31st Mar 2004
Equitable Life's reluctance to reveal the amount of money lost by policyholders is unfair to those who may have lost life savings, and could hamper their case for compensation according to Liberal Democrat Shadow Chancellor Dr Vincent Cable.
Dr Cable said: "Following the Penrose report, Equitable Life is right to demand a ruling on maladministration by the Parliamentary Ombudsman."
"I am however very concerned that important information on how much policy holders have lost as a result of the crisis is being kept hidden."
"I have asked the Treasury in a Parliamentary Question to publish this data.The Treasury has this information and is willing to release it but tells me that Equitable Life is blocking its release on the grounds of 'commercial confidentiality'."
"I cannot understand why information required to bolster investors' cases for compensation is being kept secret. Equitable Life has a duty to help past and existing customers who have lost money in any way it can."
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Wed 24th Mar 2004:
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Wed 10th Mar 2004:
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Tue 24th Feb 2004:
[Brown Cannot Duck Responsibility Over Equitable Life Losers]
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Tue 28th Oct 2003:
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Thu 27th Mar 2003:
[Report Throws New Complexion On Equitable Life]
Wed 12th Mar 2003:
[Compensate All Equitable Life Victims, Not Just Complainants]
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