During her statement, the Minister
informed the House that she has commissioned two independent reviews and also requested that
the Accounting Standards Board undertakes an urgent study into accounting for with profits
business by life insurers. Ms Kelly said that Paul Myners will lead a Review into the corporate
governance arrangements applicable to mutual life offices and Sir Derek Morris, retiring
Chairman of the Competition Commission, will lead a Review examining the actuarial
profession.
Link to the Building Societies Association’s press release commenting on the Myners Review:
http://www.bsa.org.uk/PressOffice/Release_040308.asp
Dormant Accounts
