Equitable Life

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 25th January 2001.

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Photo of Miss Melanie Johnson Miss Melanie Johnson Economic Secretary, HM Treasury 12:00 am, 25th January 2001

As I announced in Westminster Hall on 19 December, the Financial Services Authority is preparing a report on the events that led to Equitable Life's decision to close to new business. The report will cover both the FSA's role as prudential regulator and its exercise of its functions under the Financial Services Act 1986, including the Personal Investment Authority's responsibility for the conduct of business regulation of long-term, investment-linked life insurance. The report will be published.