Tweak to with-profits rules on compensation payments

Shareholders alone will only have to pay for any compensation and redress awards made against proprietary life insurance companies for misselling identified after new with-profits rules take effect, which is expected at the end of July 2009. Previously, it was proposed in CP08/11 that the shareholders, rather than any inherited estate of the with-profits fund, would also bear the full cost of remediation to customers for misselling identified before the new rules went into operation.