SFO will not investigate Equitable Life

The decision follows the collapse of the company's legal battle with former directors and auditor Ernst & Young. The SFO previously said it would not make an announcement until that matter was decided one way or another. "Following careful consideration of the available evidence, including the Penrose Report and material held by the Society and following the result of the Society’s case against its previous auditors and some of its former directors, the Serious Fraud Office confirms that nothing has emerged which would justify a full criminal investigation in to the affairs of the Equitab...