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Deadline looms for Equitable investors

13 April 2012

PENSIONERS with annuity plans at Equitable Life have just a day to file mis-selling claims with lawyers seeking compensation.

The Equitable Life Trapped Annuitants body is urging those who bought a with-profits policy before July 1998 to contact Bristol law firm Clarke Willmott by tomorrow.

However, a probe by City watchdog the Financial Services Authority has concluded that 'generic claims' against Equitable for its bonus policy in the 1990s 'are unlikely to succeed'.

The FSA believes individual policyholders who were mis-sold policies might still have claims against the firm.

The disclosure came as Equitable chairman Vanni Treves widened his assault on policyholders' action group EMAG, which has been seeking a reconciliation with the insurer to gain Government compensation.

Treves accused EMAG and its leadership of having 'written or endorsed innumerable corrosive, vicious and untrue statements on Motley Fool (a website) and elsewhere'.

He dismissed EMAG as a fringe group.

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