Equitable actuaries inquiry at an end

Published on 18/08/2012 02:02

Actuaries involved in the Equitable Life scandal will not face any further action, a disciplinary board has announced.

There is “no realistic prospect” that a tribunal would make an adverse finding against actuaries from the Government Actuary’s Department and Ernst & Young, the Accountancy
and Actuarial Discipline Board said.

Its investigation into an Ernst actuary in connection with the audits of Equitable Life, as well as a probe into what advice was given by people who worked in the government department to regulators about the matter, will be closed, it said.

Equitable Life policyholders have been promised compensation by the government. Some £1.5 billion has been set aside to compensate policyholders.