FSA to commission independent review of MAS

Originally set up as the Consumer Financial Education Body in 2010, the service has attracted significant criticism over the past year, with a parliamentary committee currently looking into its future. Its total budget for the current financial year is £80.8m, with £46.3m spent on money advice and the remainder on debt advice. Responding to a written question from Democratic Unionist MP Gregory Campbell, financial secretary Mark Hoban explained how the MAS will come under the microscope again next year. He said: "Lord Turner, Chairman of the FSA, has made it clear that the FSA inte...