EQUITABLE LIFE (no.2)

Motion Text

That this House notes the invitation from the Parliamentary Ombudsman to honourable Members to give their views on the possibility of re-opening her inquiry into Equitable Life; recognises that the Penrose Report identified operational regulatory failure as well as failings of the regulatory system; believes that it is now appropriate for an assessment to be made as to whether such failure amounts to maladministration and if so what compensation should flow from these findings; and calls on the Parliamentary Ombudsman to re-open her inquiry without delay.