In Reply to: Ombudsman's enquiry into FSA re Equitable Life posted by GrumpyGuts on 02 July 2003 at 05:59:41:
I was aware of Equitable's policy in this regard - one reason why I have used them in the past for investment quite separate from the IBM pension scheme. But I agree not all customers would have done.
What I was not aware of, however, was the extent of the GAR promises they had made. And their statements about the maximum liability in this regard before (and for a while after) the House of Lords ruling were wrong, and misled me. It seems to me that making such misleading statements is a matter that should concern regulators.