'Light touch' regulation is cause of Eq Life crisis

Speaking at a press conference in London, a delegation from the European Parliament’s committee of inquiry into the Equitable Life crisis stated one of the areas they were looking into was the regulation in place in the member states affected by the collapse of the insurer. Mairead McGuinness, chairwoman of the committee, says one of the three areas the inquiry was examining was the regulatory system, particularly in the UK which she says “appears to have been somewhat ‘light touch’ and it needs to be asked whether this has been the cause of some of the problems”. However, Proinsias De ...