§ Mr. WigginTo ask the Chancellor of the Exchequer what considerations underlay the policy of the FSA and the Treasury on informing Equitable Life insurance policy holders on the sufficiency of funds within the with-profit fund to cover guaranteed annuity rate liabilities. [7315]
§ Ruth KellyBoth Government and regulators are concerned to see that insurance and investment businesses comply with the statutory and regulatory requirements placed on them.
Insurance companies are subject to statutory disclosure requirements under the Insurance Companies Act 1982 and the Companies Acts. Investment firms are also subject to prudential and conduct of business regulation.