European Parliament endorses Equitable Life report
The European Parliament has supported the findings of the Committee of Enquiry’s report on the near-collapse of insurance company Equitable Life.
The committee called for changes to the drafting and enacting of EU financial services law following the Equitable Life crisis in 2000.
Mairead McGuinness, who chaired the committee, said: "The UK was flawed in its implementation of the Third Life Directive. Yes, it ticked the boxes, but its day-to-day application was inadequate."
Diana Wallis, who wrote the report, said: “I hope it will deliver a
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