(In)equitable?

Despite the Halifax bailout, Equitable still faces legal problems, the latest being the threat of action by the Office of Fair Trading (OFT) on its imposition of a 10% exit penalty on policyholders wishing to move their funds. This is on the exercise of ‘absolute discretion’ by Equitable rather than the penalty as such. Further, the Financial Services Authority (FSA) is investigating whether last year’s customers should be compensated for misselling.