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The Actuary The magazine of the Institute & Faculty of Actuaries

Equitable actuary ‘banned’ by FSA

The Financial Services Authority has banned Christopher Headdon, former chief executive of failed insurance company Equitable Life, from working in a senior role in the City for six years. The punishment is the result of Headdon’s failure to disclose an agreement which limited a crucial financial arrangement which the regulator thought gave Equitable £800m to meet claims for controversial guaranteed annuities. Full details may be found at www.fsa.gov.uk.