COMMONS

Inherited Estates

"Treasury Committee calls on FSA to beef up regulation of with-profits sector to ensure fair and transparent use of Inherited Estates"

This inquiry focused on how well the interests of with-profits fund policyholders were being protected by the FSA, particularly with regard to issues surrounding inherited estates. Conflicts of interest arise because shareholders, through the management of life firms, control fund strategy and therefore stand to gain at the expense of policyholders from certain uses of inherited estate.

 

Oral evidence

Tuesday 22 April 2008

Witnesses: Peter Vicary-Smith, Chief Executive and Dominic Lindley, Principal Policy Advisor, Which?; Clare Spottiswoode CBE, Policyholder Advocate for Norwich Union, and Dr Eileen Marshall CBE, independent consultant, Office of the Policyholder Advocate for Norwich Union; Hector Sants, Chief Executive, and Sarah Wilson, Director and Insurance Sector Leader, Financial Services Authority  

Wednesday 30 April 2008

Witnesses: Mark Hodges, Chief Executive, and John Lister, Chief Actuary, Norwich Union Life, and Nick Prettejohn, Chief Executive, and Nikki Maynard, Director of Strategic Projects, Prudential UK 


 

Publications

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    Glossary

    • Reports and associated evidence – Reports of Committee inquires. This category may also include Special Reports where they are used by a Committee to bring matters relating to conduct of its business to the notice of the House.
    • Responses to Reports - Responses may be published as a Special Report, or as a Command Paper. They may also be appended to a Report should the Committee have substantial comments on the Response, in which case they can be found listed under Reports. 
    • Other oral and written evidence - Evidence taken by the Committee that has yet to or did not result in the publication of a Report. This includes transcripts of recent meetings.
    • Estimate Memoranda - An Estimate memorandum is an explanatory note that accompanies a government department’s estimate (a means by which a department seeks authority from Parliament for its spending plans).
    • Correspondence - Correspondence sent from or received by the Committee or its Chair.
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