The Equitable Life debacle nearing an end?

Don’t bank on it!

Leaked detail from Ann Abraham’s report, which is expected in the summer (hmmm, of 2007), is suggesting that there might possibly be compensation for members of the suffering With Profit’s fund.

The report has previously been delayed twice and it has taken nearly 3 years to compile. Details surfaced last October that vital information was missing from the evidence given to the government.

It is also suggested that the Treasury, the FSA and the FOS have all been criticised in this investigation and the report will highlight this.

The report is due early summer and whether or not this will pave the way for members to become eligible for compensation isn’t yet clear, but in my opinion, it’s still a very long way from being resolved, if at all.

Johnny