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

Correspondence: 24/07/2002 - to Vanni Treves - Re the issue of the possible shortcomings of regulation

38 Swains Lane
N6 6QR

24th July, 2002.

Mr. Vanni Treves
Equitable Life Assurance Society
c/o Macfarlanes
10 Norwich Street
London EC4.

Dear Mr. Treves,

Re the issue of the possible shortcomings of regulation

You have stated that the Society will not consider action against the regulator/the government until Lord Penrose's report is published. Neil Britten of the Late Joiners saw Penrose recently, and he advised that his report is for government and there is no commitment by the government that it will be published. Furthermore there is no end date in the terms of reference. This arrangement sounds suspiciously like the government wishing to kick any difficulties into the long grass.

In view of this situation, I would be grateful if you would advise me as to what steps the Society will now take to examine the government's responsibility for the plight of the Society.

Yours sincerely,


c.c. Board members + EMAG Committee + website + various journalists.