Mps have demanded the Treasury hand over the potentially damning report by Lord Penrose into the role of regulators in Equitable Life, in order to avoid a whitewash of the affair.
Andrew Tyrie, the Conservative MP and member of the influential Treasury Select Committee, has written to Ruth Kelly, the financial secretary to the Treasury, to ask that a full copy of the report, "without excisions or alterations" is given to the committee to ensure fair play.
Suspicions have been roused after Ms Kelly told the House of Commons that she might not publish the 800-page report because of legal implications. "It is particularly important that those that could be in the frame for having failed as regulators should not be able, and be seen to not be able, to influence the content of the published report," Mr Tyrie said. He believes policyholders need to have confidence that the Treasury and the Financial Services Authority would not edit damaging revelations about themselves out of the report. "The committee, acting confidentially, can provide that reassurance," he said.
Lord Penrose delivered his report to the Treasury last month and since then a team of Treasury lawyers have been scouring it. Ms Kelly has saidit is her intention to publish the report in full.
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