FSA investigators are swarming about HBOS after the company was told to hand over documents relating to operations in Bristol and Aylesbury, The Daily Telegraph reports.
These, of course, are the headquarters respectively of its Clerical Medical and Equitable Life with profits administration operations. The paper says the FSA refuses to comment on the alleged investigation. There is no suggestion the financial strength of HBOS is under threat, the paper adds, rather it is the handling of Equitable Life policies coming under scrutiny following complaints from policyholders. Halifax bought the unit-linked and administration arms of Equitable shortly, including the Aylesbury administration HQ shortly after Equitable closed to new business in December...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
