1-20 of 334 results for subject:"Equitable Life Independent Inquiry"
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To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 22 November (HL3771), what assessment they have made of the critiques by the Penrose Inquiry into Equitable Life summarised in points (a) – (e) of Appendix IV paragraph 1.6 of FRS 27 of December 2004; and for...
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 22 November (HL3771), what assessment they have made of the critiques by the Penrose Inquiry into Equitable Life summarised in points (a) – (e) of Appendix IV paragraph 1.6 of FRS 27 of December 2004; and for...
FRS 27 has addressed many of the critiques made by the Penrose Inquiry in the development of IFRS 17, except for the differences between the accounting bases for regulatory and financial reporting. Insurance is inherently a complex business so some complexity in the related financial reporting is inevitable. However, a standardised basis for financial reporting will go a long way to addressing concerns related to complexity.
The Penrose Inquiry also identified regulatory failures to restrain the hazardous conduct of firms and to protect stakeholders. The Financial Services Authority (now the Financial Conduct Authority) took the recommendations from the report to enhance the solvency and liquidity requirements and set other boundaries more tightly in the Solvency II legislation.
The accounting basis for regulatory purposes is not within the remit of the IFRS Foundation and regulatory reporting is not designed to report performance. The Prudential Regulatory Authority has responsibility for promoting the safety and soundness of insurers and the protection of policy holders.
To ask Her Majesty's Government which of the deficiencies in insurance company accounting that were identified by the Penrose Inquiry into Equitable Life have been dealt with by the International Financial Reporting Standards Foundation; how they were dealt with; and if they were not dealt with, why not.
To ask Her Majesty's Government which of the deficiencies in insurance company accounting that were identified by the Penrose Inquiry into Equitable Life have been dealt with by the International Financial Reporting Standards Foundation; how they were dealt with; and if they were not dealt with, why not.
The Penrose Inquiry into Equitable Life focussed on UK financial and regulatory reporting in the years leading up to 2001, and how they related to the Equitable Life Assurance Society.
The Inquiry identified that life insurance company accounts needed a consistent and realistic accounting basis for the preparation of accounts. They recommended the creation of consistent standards for the preparation and presentation of accounts for long term business. The IFRS Foundation has stated that this was a key aim when developing and publishing IFRS17. In order to make insurers’ financial statements more useful for users of financial statements.
A debate on a motion relating to errors in payments made to victims of the Equitable Life scandal is scheduled for Thursday 21 January 2021.
A debate on a motion relating to errors in payments made to victims of the Equitable Life scandal is scheduled for Thursday 21 January 2021.
This note summarises the history behind the continuing campaign for more compensation for Equitable Life policyholders.
This note summarises the history behind the continuing campaign for more compensation for Equitable Life policyholders.
To ask the Secretary of State for Health what discussions he has had with the Scottish Executive about the timetable for publication of the Penrose Inquiry.
To ask the Secretary of State for Health what discussions he has had with the Scottish Executive about the timetable for publication of the Penrose Inquiry.
The timetable for Lord Penrose to complete his report and publish it, is a matter for Lord Penrose himself to decide. Lord Penrose has publicly announced that he will publish his report in the autumn of 2014, but we do not know the exact date. We are keeping in touch with the Cabinet Secretary for Health and Well Being of the Scottish Government.
Developments in the Equitable Life case from the establishment of the Penrose enquiry.
Developments in the Equitable Life case from the establishment of the Penrose enquiry.
To ask Mr Chancellor of the Exchequer, what recent discussions (a) he and (b) his officials have had with the Parliamentary Commission for Administration concerning his inquiry into Equitable Life; and what indications he has given as to when he expects to publish his findings and recommendations. - (Holding answer...
To ask Mr Chancellor of the Exchequer, what recent discussions (a) he and (b) his officials have had with the Parliamentary Commission for Administration concerning his inquiry into Equitable Life; and what indications he has given as to when he expects to publish his findings and recommendations. - (Holding answer...
That this House notes the invitation from the Parliamentary Ombudsman to honourable Members to give their views on the possibility of re-opening her inquiry into Equitable Life; recognises that the Penrose Report identified operational regulatory failure as well as failings of the regulatory system; believes that it is now appropriate for an assessment to be made as to whether such failure amounts to maladministration and if so what compensation should flow from these findings; and calls on the Parliamentary Ombudsman to re-open her inquiry without delay.
That this House notes the invitation from the Parliamentary Ombudsman to honourable Members to give their views on the possibility of re-opening her inquiry into Equitable Life; recognises that the Penrose Report identified operational regulatory failure as well as failings of the regulatory system; believes that it is now appropriate...
Debate on a motion for the adjournment on the Equitable Life Inquiry. (Relevant document HC 71-iv 2003/04).
Debate on a motion for the adjournment on the Equitable Life Inquiry. (Relevant document HC 71-iv 2003/04).
Supplementary business question on the Penrose report into Equitable Life and implementation of recommendations by the Cooperative Commission.
Supplementary business question on the Penrose report into Equitable Life and implementation of recommendations by the Cooperative Commission.
To ask Mr Chancellor of the Exchequer, when he will publish the Penrose Report.
To ask Mr Chancellor of the Exchequer, when he will publish the Penrose Report.
Statement on the Penrose report into Equitable Life (HC 290 2003/04).
Statement on the Penrose report into Equitable Life (HC 290 2003/04).
To ask Mr Chancellor of the Exchequer, on what date he expects to publish the Penrose Report on Equitable Life.
To ask Mr Chancellor of the Exchequer, on what date he expects to publish the Penrose Report on Equitable Life.