FSA and FRC enhance information exchange
by Gill Montia
Story link: FSA and FRC enhance information exchange
The Financial Services Authority (FSA) and the Financial Reporting Council (FRC) are enhancing their level of co-operation and information sharing, having today signed a new Memorandum of Understanding on accounting and disclosure issues. The move should enable the regulators to improve their oversight of the audits of authorised firms, particularly as the FRC’s Audit Inspection [...]
Equitable Life drops sale of with-profits fund
by Gill Montia
Story link: Equitable Life drops sale of with-profits fund
Equitable Life, the troubled mutual life insurer that came close to collapse eight years ago, has dropped the sale of its £6.8 billion with-profits fund. The company put itself up for sale in March of this year, having already transferred the bulk of its fixed pensions business to Canada Life. However, the insurer says it [...]
Disciplinary board to investigate Equitable Life actuaries
by Gill Montia
Story link: Disciplinary board to investigate Equitable Life actuaries
The Accountancy and Actuarial Discipline Board (AADB) is to investigate the way in which government actuaries advised the regulators of mutual life insurer, Equitable Life. The board will focus its enquiries on the advice given by the Government Actuary’s Department (GAD), between December 1990 and April 2001. Equitable Life was founded in 1762 and grew [...]
