Equitable policyholders tap EU for UK government compensation

A statement issued by London-based Class Law Solicitors - legal representatives of the policyholders - says the complaint has been made because UK financial services regulatory authorities, and as a result, the UK government, failed to "properly regulate the activities of Equitable Life Assurance Society" and are therefore in breach of European insurance directives. In particular, Class Law argues the government is in breach of these directives because it failed to implement a proper regulatory system, where the regulators are found to have failed UK policyholders. Moreover, Class Law...