Correspondence: 23/08/2001 - from Peter Neville, Director General, Guernsey Financial Services Commission 23 August 2001 - Peter Neville, Director General, Guernsey Financial Services CommissionDear Ms FelgateTHE EQUITABLE LIFE ASSURANCE SOCIETY Thank you for your e-mail of 18 August and for your confirmation that you are seeking to work closely and amicably with the Commission. I believe it is in the interests of the Guernsey branch policyholders for us to co-operate with you as we seek advice from Norton Rose. The Commission has, on its own behalf, instructed Norton Rose to consider a number of issues arising from the operation of the Guernsey branch of the Equitable. We wish to give you comfort that the brief has included many of the issues that you have raised including:
I would be grateful if you could forward to us information on the different treatment of the Republic of Ireland, German and Dubai with-profits policies, and any evidence that ELAS did not take the required steps in respect of the promotion and selling of policies into the EU from Guernsey. We will ensure that policyholders are properly informed once Norton Rose's opinion is available. Thank you for your confirmation that we may contact you for further information and assistance. Yours sincerely Peter Neville Director General Guernsey Financial Services Commission |