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The independent action group for current and ex Equitable Life policyholders, funded by contributions. Equitable Members Action Group Equitable Members Action Group Limited, a company limited by guarantee, number 5471535 registered in the UK |
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The independent action group for current and ex Equitable Life policyholders, funded by contributions. Equitable Members Action Group Equitable Members Action Group Limited, a company limited by guarantee, number 5471535 registered in the UK |
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Correspondence: 29/08/2002 - to Vanni Treves - Re the Penrose inquiry 38 Swains
Lane
London N6 6QR 29th August, 2002. Mr.
Vanni Treves
Dear Mr. Treves,
Re Penrose I enclose two recent pieces in the Telegraph of 21 August. Conceivably a purpose of Penrose's Inquiry (which is "secretaried" by Treasury civil servants and written for the Treasury; has no time deadline; and there is no commitment to publication) is to keep the Equitable issue in the long grass. I imagine you are aware that when the Treasury Select Committee asked the Treasury for its briefing to the FSA in October 1998 regarding the Equitable, the Treasury hid behind the Osmotherley rules and refused to provide the material. This shows a clear reluctance to publish what may be critical information.
Many members of the Society are very worried about their financial situation. Some wonder whether the government and FSA were sleeping on the regulatory watch. I suggest the Board has a duty to its members to act on behalf of the members in publishing the moral case against the government and FSA, and do so promptly - for justice delayed is justice denied, particularly for older members who may not be with us for much longer. We have no doubt that the Board has sufficient information within its files for this purpose. I would be grateful if you would inform us of your intentions in the light of the delay.
Yours sincerely,
ALEX HENNEY Chairman, EMAG
c.c. EMAG
Committee, Board Members + Journalists. |
