Equitable Life

Treasury written question – answered on 7th November 2001.

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Photo of Christopher Chope Christopher Chope Shadow Spokesperson (Treasury)

To ask the Chancellor of the Exchequer what advice was given to the Financial Services Authority about the Equitable Life Assurance Society; and when the FSA was given responsibility for the regulation of Equitable Life under the service level agreement dated 18 December 1998.

Photo of Ruth Kelly Ruth Kelly Economic Secretary, HM Treasury

I refer the hon. Member to the section of chapter 4 of the report of the Financial Services Authority headed "The Inheritance Period". Responsibility for the prudential regulation of the life insurance industry, including Equitable Life, passed to the FSA on 1 January 1999.

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