Members of the Personal Finance Society (PFS) board have dismissed claims of governance failures made by the Chartered Insurance Institute (CII) as the power struggle between the two organisations continues into 2023.
The boards of the PFS and CII are at loggerheads after the latter attempted to take over the running of the former's board in an unforeseen move just before the Christmas break. On 21 December, the CII announced it intended to appoint a majority of directors to the PFS board after long-running mediation over its future failed and "significant governance failures" emerged. Past PFS presidents hit back at the claims in the following hours with Sarah Lord saying the move had obviously been long planned: "It is extraordinary that they have been so disingenuous." In the saga's latest de...
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