Further Invesigation Needed

HUGH ROBERTSON PUSHES FOR FURTHER INVESTIGATION INTO EQUITABLE LIFE

Hugh Robertson has today written to the Parliamentary Ombudsman to encourage her to carry out a further investigation into Equitable Life.
He cited the following reasons for his request:

1. The Ombudsman’s Office is particularly well suited to investigate whether public bodies responsible for the regulation of Equitable Life are guilty of maladministration.

2. The public regard in which the Ombudsman’s office is held relies on its willingness to investigate difficult cases such as this.

3. The Ombudsman can make recommendations for corrective action if maladministration is proved.

4. The Ombudsman can invite Lord Penrose to assist her investigation and, indeed, cover the same time period.

5. The Ombudsman can reconsider her original decision not to investigate the Government Actuary’s Department (GAD) or ask Parliament to increase her remit if she still feels that this exceeds her jurisdiction.

Hugh said: “I have many constituents whose security in their retirement has been jeopardised by regulatory failings over Equitable Life. I hope that the Parliamentary Ombudsman will not let them down and open a further investigation into the government’s regulatory failings.”