Equitable Life chief free to return to the City

Under the terms of the disciplinary action, the FSA can revoke the banning order at any time from 26 May this year if Headdon applies for it to be lifted. At present his name still appears on the FSA's list of banned individuals, even though his period of enforced exile expired on that date. Equitable Life closed to new business in 2000 and came close to collapse after failing to put sufficient funds aside to pay for the guaranteed payouts it had promised on some pension policies it had been selling from the 1950s until 1988. A million people saw their retirement savings slashed as...