MP: MAS a 'quango in search of a role'

clock

MPs have continued to heap criticism on the Money Advice Service (MAS), with questions being raised about the lack of focus in its role.

Appearing before MPs on a Treasury Select Committee sub-committee, Gillian Guy, chief executive of the Citizens Advice Bureau (CAB), was asked today about her views on the MAS. Opening with a question about what Guy thought the role of the MAS was, Conservative MP Jesse Norman said: "As far as I can see it is a quango in search of a role." Although the CAB has been supportive of the existence and aims of the MAS, Guy suggested its had not correctly prioritised its budget, with about £20m going on marketing. "The fundamental issue is the focus of the MAS, which is building a new bra...

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

Trade bodies call for chancellor to stop FCA public enforcement

Trade bodies call for chancellor to stop FCA public enforcement

‘Proposals to publicise investigations are a worrying development’

Isabel Baxter
clock 29 April 2024 • 2 min read
SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read