Ministers attacked over Equitable Life response

The Parliamentary Ombudsman has published a second report criticising the Government's response to her findings of maladministration, which has received the backing of major stakeholders. Ombudsman Anne Abrahams found the Government had been responsible for ten counts of maladministration, which led to the near collapse of the life insurer. Ministers have since apologised for the failure of regulation, but rejected some of the Ombudsman's findings and ignored her recommended compensation scheme. Instead, the Government has appointed Sir John Chadwick to design a scheme that will only ...