Treasury Select Committee to refer AIFA funding to the OFT

In a tough grilling of the AIFA by TSC members this morning, MPs pushed AIFA director general Paul Smee to the wire - along with Amanda Davidson of Charcol Holden Meehan and an AIFA director, as well as Roger Saunders, deputy chairman of the AIFA - on a variety of issues concerning long-term savings, including the cost and remuneration of advice, the liquidation of Berry Birch Noble, the assumed lack of ethics of the industry, as well as the complexity of product structure, precipice bonds and the potential for Sandler suite products. Early in proceedings, however, chairman John McFall M...