FOS appeal option could delay Equitable payouts

"Late joiner" Equitable Life policyholders who claim they were not told of the financial risks behind GAR payouts may still have to wait several months before they find out whether they are entitled to compensation, says the Financial Ombudsman Service. David Cresswell, head of communications at the FOS, says adjudications on Equitable Life "lead cases" are expected within the next few weeks. However, consumers may not see any sign of compensation until months down the road - even if the decision swings in favour of the policyholder - because both Equitable Life and the policyhold...