The Parliamentary Ombudsman has criticised the government for sidestepping compensation for some investors in Equitable Life.
Ann Abraham identified maladministration by various government departments in her first report into the near-collapse of the private pension provider.
She called for compensation for more than a million policyholders but the government responded with a plan to help only those hardest hit.
She now wants Parliament to debate the matter following her second, special report into the government's reponse.
Money Box speaks to Equitable Life chairman Vanni Treves about the latest development.