A draft report criticising the ‘light touch' UK regulatory regime over the Equitable Life collapse is being undermined by a lack of support from Labour Committee members, claims a Conservative MEP.
The Committee of Inquiry into the collapse of Equitable Life met yesterday to finalise its conclusions and recommendations, but Sir Robert Atkins, Conservative MEP and member of the Committee, says all members supported the report “with the exception of the Socialist Group”. Atkins claims British Labour MEPs are “seeking to wreck the proposed report” on the basis that it “criticises the British financial regulators and therefore, by implication, the Labour government”. The report, authored by Diana Wallis Liberal Democrat MEP and Rapporteur of the Committee, still has to be put to the v...
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