The FSA has published documents which comprise the FSA's report to the Court in relation to the proposed transfer of with-profits annuities from The Equitable Life Assurance Society to The Prudential Assurance Company Limited. The transfer will be under the “Part VII” regime in FSMA 2000. Included in the report are the FSA’s comments on the position of policyholders subject to the transfer in relation to any claims made as a consequence of the publication of the findings of the investigation into the regulation of Equitable Life by the Parliamentary Ombudsman.

This transfer follows the completion of the transfer of the bulk annuity business, comprising approximately £4.6 billion, to Canada Life on 9 February 2007.

For further information: The proposed transfer of the with-profits annuities of The Equitable Life Assurance Society to the Prudential Assurance Company Limited