UK - Beleaguered insurer Equitable Life has conceded that it has no realistic legal claim to make against the regulators for its demise.
Law firm Herbert Smith – which advised Equitable’s board on the merits of possible claims by the society and policyholders against the various regulators – concluded any claim would be “complex, lengthy and costly”.
Equitable Life chairman Vanni Treves said: “In light of the unequivocal advice of our lawyers, we will not squander members’ money.”
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).