FSA 'self-critical' of role in Equitable

UK - An internal investigation by the Financial Services Authority has sharply criticised its own role in the Equitable Life debacle.

The City watchdog's unexpectedly hard-hitting report identified poor communication within the regulator, said its staff were overly influenced by the confidence of Equitable heads and criticised the watchdog's handling of a reinsurance deal that helped to maintain the mutual's solvency.

The FSA said its board had accepted the 258-page report but decided no sancti

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