EQUITABLE LIFE APOLOGY ‘TOO LITTLE, TOO LATE’.

EQUITABLE LIFE APOLOGY ‘TOO LITTLE, TOO LATE’.

Commenting on the UK Government’s apology to Equitable Life policyholders for a decade of regulatory failures, and the announcement of a scheme to partially compensate some policyholders who lost money in the Equitable Life fiasco, SNP Westminster Regulatory Reform spokesperson, Mike Weir MP, described the outcome as “too little, too late”.
Mr Weir said:

“It has taken ten years but, at last, the UK government have been brought kicking and screaming to an admission that their regulatory failures contributed to the Equitable Life fiasco.
”It is disgraceful that policyholders had to go through so much to get to this point, and for many it is a case of too little, too late.
“Thousands of Equitable Life policyholders have died since this began, and many surviving policyholders are still being denied justice.
”UK Ministers should accept their responsibilities and bring forward a scheme to compensate all those who have suffered through the UK governments regulatory failures.”