Equitable Life Boss Banned
Former Equitable Life chief executive banned from management for 6 years by the FSA
4th June 2004
The former Chief Executive of Equitable Life, Chris Headdon, has been banned from working in a management position in the finance industry for 6 years.
The Financial Services Authority imposed the ban after finding that he failed to disclose full details of a document relating to the company's crisis in 2000, after which many annuitants and pension savers found they had lost up to 40% of their investment.
The latest action follows a recent official report that criticised the actions of several former Equitable Life management figures.
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