EQUITABLE LIFE MEMBERS
Diana Wallis MEP Press Release
Last Updated: Wednesday, May 06, 2009 12:58 PM
News
release
Diana
Wallis, Liberal Democrat, Yorkshire & the Humber
6th
May 2009
Ombudsman’s
report is clear: ‘government should do the honourable thing on
Equitable Life'
Liberal Democrat MEP Diana
Wallis, author of the European Parliament's investigative report into
the failure of Equitable Life, has today welcomed the Parliamentary
Ombudsman's follow-up report criticising
the government for sidestepping compensation for some investors in
Equitable Life.
The Parliamentary
Ombudsman's report into the near-collapse of the private pension
provider identified maladministration by various government departments.
Despite a government apology, she has produced a report into the
response entitled Injustice
Unremedied.
Diana Wallis MEP, a
Vice-President of the European Parliament, said:
“The Parliamentary
Ombudsman makes just the point we have been making: that this is a
screaming injustice still waiting to be remedied. It beggars belief that
the Government has still issued no more than a letter to reply to our
Parliament's detailed report of hundreds of pages setting out compelling
evidence of regulatory failure.
“When will this
government own up? I t should do the honourable thing and compensate the
losers on the basis of justice, not need, which is a measure no court of
law would use as a yard-stick. the Chadwick enquiry set up the
government is just a further delaying tactic and it is good that the
Ombudsman had stood up and denounced it so roundly.'