FSA 'dissatisfied' with Money Advice Service accountability

clock

The Financial Services Authority (FSA) board has expressed concerns about the accountability of the Money Advice Service (MAS).

Minutes of the board's June meeting show the issue was raised when discussing FSA chairman Lord Turner's recent (20 June) appearance before the Treasury Select Committee (TSC). "The Board continued to be dissatisfied with the accountability arrangements and requested that this be discussed at the July Board," the minutes recount. During the meeting, it was also agreed that the chair and CEO of the MAS, Gerard Lemos and Tony Hobman respectively, would attend the July meeting of the board. Once it had received the MAS's annual report assessing the service's achievements against speci...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

'Danger' for advisers who think poor conduct is not relevant to them

'Danger' for advisers who think poor conduct is not relevant to them

‘You cannot rely on people deciding what to do in the moment’

Hope Coumbe
clock 28 March 2024 • 1 min read
Advisers on 'dangerous ground' if they take tick-box regulation approach

Advisers on 'dangerous ground' if they take tick-box regulation approach

‘They should embrace the spirit in which the regulation has been created’

Isabel Baxter
clock 27 March 2024 • 1 min read
FCA enforcement to become 'assertive, proactive and intrusive'

FCA enforcement to become 'assertive, proactive and intrusive'

‘You can expect the regulator to take robust action where needed’

Isabel Baxter
clock 29 February 2024 • 2 min read